Middle Market Deal Terms at a Glance – June 2025
Source: SPP Capital Partners Contact: Stefan Shaffersshaffer@sppcapital.com
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Chart of the Week: The Comeback Kid
Since the 2021 peak, global M&A activity has been on the rebound. Source: LSEG
Private Credit – The Final Reckoning (Third of a Series)
We spoke recently to a C-suite executive of a global specialty chemicals company about how tariffs are affecting his business. He outlined his strategy to expand production in the US, but also how these plans were being stymied by the cost of importing equipment. “There are some things today, cranes for example, that are only…
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Middle Market & Private Credit – 6/23/2025
Private Credit’s Growing Complexity Untested Through Market Cycles Click here to download report. What are Key Trends to Watch for BDCs? Fitch’s 2025 sector outlook for BDCs remains ‘deteriorating’ as continued spread pressure and additional non-accruals will likely weaken earnings and dividend coverage for BDCs in 2025…. Subscribe to Read MoreAlready a member? Log in
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KBRA Direct Lending Deals: News & Analysis – 6/23/2025
TTM Default Volume, Count (Past performance is no guarantee of future results.) Contact: Eric Rosenthaleric.rosenthal@kbra.com
The Pulse of Private Equity – 6/23/2025
PE Index quarterly returns Download PitchBook’s Report here. Preliminary Q4 2024 returns suggest a quarter of weaker performance, potentially tilting the yearly returns for 2024 back into single digits…. Subscribe to Read MoreAlready a member? Log in here...
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Leveraged Loan Insight & Analysis – 6/23/2025
How do middle market lenders characterize the quality of 2Q25 loan supply? According to preliminary results from LSEG LPC’s quarterly middle market lender outlook survey, a large majority (81%) of respondents say they were not able to lend as much as they wanted in 2Q25…. Subscribe to Read MoreAlready a member? Log in here...
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Debtwire Middle-Market – 6/23/2025
Source: VanEck BDC Income ETF, BofA Merrill Lynch US High Yield Effective Yield The blue line in the chart is the current dividend yield of the *VanEck BDC Income ETF (currently at 11.1% as of 20 June) that tracks the overall performance of publicly traded business development companies (BDCs, are lenders to privately held middle-market businesses…
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Covenant Trends – 6/23/2025
Percentage of Loans with MFN Carveouts (Past performance is no guarantee of future results.) Contact: Steven Miller smiller@covenantreview.com
LevFin Insights: High-Yield Bond Statistics – 6/23/2025
Launched Volume Source: LevFin Insights New-issue Yields Source: LevFin Insights Weekly Fund Flows Source: Lipper (Past performance is no guarantee of future results.) Contact: Robert Polenbergrobert.polenberg@levfininsights.com