The percentage of LBO deals with leverage levels greater than six times has returned to 2007 levels. So far in 2014, LPC tracked 46 LBO deals (where deal details were available) or 57% of the total with total leverage greater than the regulators’ benchmark 6… Subscribe to Read MoreAlready a member? Log in here...
This week we conclude our conversation with Stephen Lewis, founder, Cross Border Strategies LLC. His firm provides advice to global middle market companies as they structure transactions internationally and assists those companies in sourcing the necessary financing. Second of two parts – View part one The Lead Left: Steve, last week we discussed how it’s easier…
This first appeared in Middle Market Growth, the official publication of ACG. Randy Schwimmer’s column, MidPoints, is a regular feature there. You can read MMG by clicking on this link. Who invented the airplane? Depends what you mean by “invent.” “Birdmen,” a new book by historian Lawrence Goldstone, describes how the Wright Brothers became so obsessed…
Libor Day Pent-up demand post-Labor Day drove high-yield volume to its best week since early June. Year-to-date issuance is $208.8 billion – squeaking by last year’s $206.1 billion. … Subscribe to Read MoreAlready a member? Log in here...
Argentina’s interminable struggle with bondholders continues, but at least one element of the saga has reached a resolution. The credit event auction was held on September 3, and the final price was determined as 39.5. As we can see from the chart,this was in line with market expectations. Markit’s composite recovery rate was around 40%…
Going back several quarters, larger PE funds have performed better than smaller funds, generally speaking. Funds of at least $1 billion outpaced smaller size buckets across the 1-, 3-, 5- and 10-year IRR horizons through 4Q 2013,… Subscribe to Read MoreAlready a member? Log in here...
Source: S&P Capital IQ Contact: Cuong Huynh cuong.huynh@spcapitaliq.com
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The average yield assuming a three year term to repayment, on first-lien institutional tranches is at 5.56 percent so far in 3Q14, up from 5.17 percent in 2Q14. Moreover, 30 percent of first-lien term loans have priced at a yield of 6 percent or above,… Subscribe to Read MoreAlready a member? Log in here...