One of the fundamental differences between investing in broadly syndicated and middle market loans is the nature of the due diligence associated with those asset classes. The world of lending to large, liquid issuers is driven by public information. Investors use widely available ratings and price data on companies over $100 million in Ebitda to…
This week we chat with Cheryl Carner, managing director of Crystal Financial LLC. Based in Boston with offices in Atlanta and LA, Crystal Financial is a commercial finance company that originates, underwrites and manages secured debt. Their clients are middle market corporations that operate in a diverse set of industries. The Lead Left: Cheryl, it’s…
Asian corporates hold up during bond selloff The recent bond selloff in Europe and the US has led to corporate spreads widening, but Asian bonds have bucked the trend with long maturity bonds… Subscribe to Read MoreAlready a member? Log in here...
Reported cash flow growth of all institutional loan issuers has slowed from nearly 20% to just over 5% during the past four years of weak economic recovery.
The BDC industry has shown explosive growth over the last ten years and it has resulted in business development companies becoming a large force in middle market lending. BDCs’… Subscribe to Read MoreAlready a member? Log in here...
Canada Keeps Climbing Canadian PE activity put together another solid first quarter, amassing about C$8 billion through 63 deals to start 2015. Both totals are slight declines YoY, but on the whole activity has remained robust…. Subscribe to Read MoreAlready a member? Log in here...
Contact: Cuong Huynh cuong.huynh@spcapitaliq.com
In the previous two issues of our special series on the state of credit standards in the leveraged lending market, we took a deep dive on covenant trends. This week we take a step back and look at the overall picture of middle market credit fundamentals. So much of leveraged lending is tied to the…