TheLeadLeft

Markit Recap – 3/2/2015

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When it comes to how banks finance their activities, there is little doubt we are in a new era. If anyone did question that the climate has changed, then a little-known Austrian institution may have caused them to think again this week. The government of Austria announced that Heta Asset Resolution, the “bad bank”… Subscribe

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The Art of Pricing Loans (Second of a Series)

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Call it Bother of the Bride. The singer/guitarist of a wedding band posts a picture of the mother’s blue and black dress on Tumblr. Apparently other band members said it looked white and gold, so she wanted second opinions. Well, she got them – 500 within a half-hour. Then things went viral. Buzzfeed had almost…

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Chart of the Week - All Relative

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Both loan and high-yield bond yields peaked in mid-December, easing since. Relative spread favors junk by 200 bps. Gap between high-yield bonds and loans Source: S&P LCD

Lead Left Interview - Mike Hall and Bill Dietz (Part 2)

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This week we continue our conversation with Michael J. Hall and Bill Dietz, managing partner at Yukon Capital Partners. Yukon provides mezzanine capital to middle market businesses with a focus on deals controlled by private equity sponsors. The firm was poised to wrap up its second mezzanine fund raise. Second of two parts – View part one The Lead Left:…

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The Lead Left - A Special Report: Why CLO's Matter

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Beginning in June 2014 The Lead Left published a series of articles discussing the relative merits of investing in middle market senior debt and their broadly syndicated counterparts. This report consolidates those articles: What is a CLO? CLO’s role in the demand side The Value of Middle Market CLOs How next gen vehicles will deal with […]