Supported by solid technicals and a steady – if uninspired – pipeline of deals, the US loan market got a substantial boost in 2Q16 to push over US$550 billion in loan volume through the market and logging nearly US$905 billion of total issuance during the first six months of the year. Coming off a slow…
Contact: Steven Miller smiller@covenantreview.com
Thanks to Brexit, market watchers now think the probability of a Fed rate cut this year outweighs that of a rate hike. Sources: The Daily Shot, CME Group
Recent Wave of Exits Differentiated U.S. PE Fund Managers The boom in private equity-backed selling observed over the past few years, cresting in 2015, yielded rich returns for certain U.S. buyout funds. More than that, it proved a differentiating area for the top tier of U.S. fund managers. As illustrated by the chart above, certain…
This week we continue our conversation with Jessica Reiss and Justin Forlenza, attorneys with Covenant Review. Begun in 2006, Covenant Review is the world’s first boutique research firm focused on bond and loan covenants. Second of two parts – View part one The Lead Left: MFN is triggered if the company raises debt priced 50 bps from…
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Credit Hedge Fund Performance in 2016 YTD The first months of 2016 were characterised by continued market volatility, and credit-focused hedge funds recorded losses across all sub-strategies in January and February. However, as global turbulence has calmed moving into Q2, all sub-strategies have seen improved performing and posted three consecutive months of gains… Subscribe to
Contact: Timothy Stubbs timothy.stubbs@spglobal.com
The campaign for the UK to leave the European Union has lost momentum with in the lead-up to Thursday’s vote, and the credit market has been re-pricing to reflect these developments. The UK’s five year CDS spreads, which had touched yearly wides off the back of the surging “leave” sentiment last week, have been the…