TheLeadLeft
Loan Stats at a Glance – 9/7/2015
Contact: Daniel Mena daniel.mena@spcapitaliq.com
Markit Recap – 8/17/2015
We remarked last week that emerging markets could face a difficult time ahead. Well, we didn’t have to wait long before the early maneuvers in a possible currency war had an impact on sovereign CDS spreads. Vietnam was one of the first to move by devaluing its currency and widening the trading… Subscribe to Read
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Back to School Issue
With the unofficial end of summer almost upon us, we thought it would be appropriate to take a look at what’s in store for the loan markets in September. First, let’s examine total deal volume. Thomson Reuters LPC reports that year-to-date middle market LBO activity is on track relative to last year: $10.7 billion vs….
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Lead Left Interview – Martin Fridson (Part 2)
This week we continue our conversation with Martin Fridson, chief investment officer, Lehmann Livian Fridson Advisors. Fridson is “perhaps the most well-known figure in the high yield world,” according to Investment Dealers’ Digest. His firm is a registered investment adviser based in New York City and Miami, managing investment portfolios for investors across the US….
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Chart of the Week – BDC Woes
Multiple factors including lower asset yields and slashed dividends have punished trading levels for public BDCs. BDC Price to Net Asset Value Source: Thomson Reuters LPC
The Pulse of Private Equity – 8/17/2015
It’s become common knowledge (and maybe conventional wisdom) that PE buyers are much more disciplined today than they were in 2007. One useful comparison is the amount of PE capital spent versus the amount raised. Going back to 2011, note the correlation between the two totals and how little they deviate from one another. This suggests…
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Leveraged Loan Insight & Analysis – 8/17/2015
There is no shortage of yield hungry investors in the middle market however second lien volume for smaller issuers has not kept pace with demand in 2015. Year to date, middle market second lien volume has only reached $1.6 billion, which is over 70% lower than the $5.6 billion logged… Subscribe to Read MoreAlready a
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