Regulators cite “weak characteristic” of many leveraged borrowers’ inability to repay debt within seven year tenors. Source: The Fed, FDIC, OCC (Shared National Credits Program (2014 Leveraged Loan Supplement)… Subscribe to Read MoreAlready a member? Log in here...
This week we continue our conversation with Lawrence E. Golub, CEO of Golub Capital. Golub is a nationally recognized credit asset manager with over $10 billion of capital under management and four complementary business lines: Middle Market Lending, Late Stage Lending, Broadly Syndicated Loans and Opportunistic Credit. Second of two parts – View part one The Lead…
Greece was relegated to “emerging market” status by several index providers last year, and its recent turmoil seems to justify the reclassification. But the ongoing problems in the Hellenic Republic shouldn’t overshadow issues in sovereigns more familiar to EM investors…. Subscribe to Read MoreAlready a member? Log in here...
LBO leverage levels have started out in 2015 at more conservative levels than we saw in 2014. So far, the average LBO debt to EBITDA level for large corporate and institutional middle market buyout deals has dropped to 6.3 times and 5.3 times… Subscribe to Read MoreAlready a member? Log in here...
The PE Fundraising Trail Never Looked So Good Blackstone CEO Steve Schwartzman made headlines this week after saying he has “begged, literally begged” young PE execs not to strike out on their own… Subscribe to Read MoreAlready a member? Log in here...
Contact: Cuong Huynh cuong.huynh@spcapitaliq.com
The result of the Greek elections on Sunday were quite clear – an emphatic victory for the anti-austerity SYRIZA party. The Greek public have signalled that they want to move in a different direction from the path of austerity… Subscribe to Read MoreAlready a member? Log in here...
It’s hard to know exactly when second-lien term loans first appeared in the leveraged loan market. According to S&P’s Loan Primer, they showed up in the mid-1990s, as the institutional market grew, and then vanished with the Russian debt crisis of 1998. Our suspicion is these structures evolved from “over-advance” facilities in conjunction with asset-based loans,…