Chart of the Week – 8/11/2014
Got Covenants? Over half of all outstanding leveraged loans have no maintenance covenants, affording significant protection to those issuers in a downturn. Source: S&P Capital IQ LCD… Login to Read More...
TheLeadLeft
Markit Recap – 8/11/2014
We remarked last week that Banco Espirito Santo’s travails may test current CDS definitions, and so they did. But not in the way that we – or most market participants – expected. The Portuguese lender was split into a “good” bank… Login to Read More...
The Pulse of Private Equity – 8/11/2014
More but Less More The private equity industry during the first half of 2014 has acquired 2.1 companies for every 1 company that was exited. The headline implication being that the number of companies owned globally by private equity investors continues to grow…. Login to Read More...
Loan Stats at a Glance – 8/11/2014
Source: S&P Capital IQ Contact: Robert Polenberg robert.polenberg@spcapitaliq.com
Leveraged Loan Insight & Analysis – 8/11/2014
The percentage of LBO deals with leverage levels greater than six times is returning to 2007 levels. So far in 2014, LPC tracked 40 LBO (where deal details were available) deals or 55% of the total with total leverage greater than the regulators’ benchmark 6 times debt to EBITDA. … Login to Read More...
Lead Left Interview – Mark Gold (Part Two)
This week we conclude our conversation with Mark Gold, chief executive officer/chief investment officer, Hillmark Capital Management LLC and its affiliate NewMark Capital LC. Hillmark is a NY-based investment management firm focusing on broadly syndicated loans through CLO vehicles. Second of two parts – View part one The Lead Left: Mark, we’re seeing a rush by managers to issue…
Lead Left Interview – Mark Gold
This week we speak with Mark Gold, chief executive officer/chief investment officer, Hillmark Capital Management LLC and its affiliate NewMark Capital LC. Hillmark is a NY-based investment management firm focusing on broadly syndicated loans through CLO vehicles. The Lead Left: Mark, it’s been a while since we checked in on you. How large is the firm…
Leveraged Loan Insight & Analysis – 8/4/2014
After a record-breaking 2Q14, there was a sharp pull-back in the HY bond market in July. In fact, a number of deals remain on the calendar because they didn’t make it into the market the last week of July due to adverse market conditions…. Login to Read More...