Chart of the Week

Chart of the Week: What Covenants?

In a William Blair survey, 63% of lenders indicated they would consider cov-lite or cov-loose structures for issuers below $50 million in ebitda.

Chart of the Week: Shrinking Gap

The illiquidity premium earned by middle market loans over broadly syndicated ones has generally tightened, now at less than 70 bps, while all-in spreads have risen.

Chart of the Week: Uni Cycle

Single-tranche senior debt financing volume and deal size rose sharply last quarter as direct lenders found traction with one-stop solutions.