Chart of the Week – Lower Gears
While these data include all middle market loans, not just LBOs, the trend seems to confirm regulatory pressures are impacting leverage. Source: S&P Capital IQ
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Lead Left Interview – John Brignola
This week we chat with John Brignola, managing partner, LBC Credit Partners. LBC is a leading provider of middle market financing solutions supporting sponsored and non-sponsored transactions. LBC has over $1.75 billion of capital commitments and has made over $3.2 billion in investments in a wide range of industries located throughout North America. The Lead…
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The Pulse of Private Equity – 7/13/2015
Investment-to-Exit Ratio at Record Low While it’s true that PE firms remain hopeful buyers, and the number of deals has risen over the years, they’re much more active on the sell side today. Through June, the U.S. investment-to-exit ratio is at a record low 1.7x in 2015…. Subscribe to Read MoreAlready a member? Log in
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Leveraged Loan Insight & Analysis – 7/13/2015
After a very slow start to the year, leveraged lending picked up in 2Q15. Issuance of $233.3 billion was up 69 percent from 1Q15 levels. While issuance was down year-over-year, it only trailed by 10 percent, a lot lower than the 53 percent deficit recorded in 1Q15. On the heels of a very slow first…
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Loan Stats at a Glance – 7/13/2015
Contact: Cuong Huynh cuong.huynh@spcapitaliq.com
Markit Recap – 7/6/2015
Pressure on Euro banks pushes spreads wider European financials have seen their credit risk nearly double since March, steered by the prospect of less government aid for banks and the ongoing Greek crisis. Markit iTraxx Europe Senior Financials is at its widest level since March 2014… Subscribe to Read MoreAlready a member? Log in here...
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Why Revolvers Matter
It’s been called the most mispriced security on Wall Street. It’s also the least-known casualty of bank regulatory reform. Welcome to the revolving credit facility. For decades the workhorse of commercial financing, a revolving credit operates like a credit card supporting a corporate borrower’s receivables and inventory. It’s typically made available by commercial banks in…
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Chart of the Week – Yield Signs
Regulatory pressures have buoyed spreads since early 2014, with middle market at a consistent premium to large caps. Source: Thomson Reuters LPC