Debtwire

Debtwire Middle-Market – 5/25/2020

Secured issuance and higher pricing define current HY bond market Source: Debtwire Par The US high yield bond market has been printing paper at a rapid clip since reopening in April, which saw roughly USD 40.6bn in volume, the most active month this year to date, and a far cry from the USD 5.3bn seen

Debtwire Middle-Market – 5/18/2020

Source: Cliffwater Direct Lending Index and BofA Merrill Lynch US High Yield Effective Yield The red line in the chart is the *Cliffwater Direct Lending Index (CDLI) current yield, which is based on the investment income of the underlying assets held by public and private BDCs. BDCs invest in middle market companies, and the Index

Debtwire Middle-Market – 5/11/2020

High-yield bond market comes roaring back in April Source: Debtwire Par The US high yield market came roaring back to life in April with roughly USD 40.6bn in issuance across 51 deals, easily the most active month this year, and a far cry from the USD 5.3bn issuance seen in March when much of the

Debtwire Middle-Market – 5/4/2020

Source: Cliffwater Direct Lending Index and BofA Merrill Lynch US High Yield Effective Yield The red line in the chart is the *Cliffwater Direct Lending Index (CDLI) current yield, which is based on the investment income of the underlying assets held by public and private BDCs. BDCs invest in middle market companies, and the Index

Debtwire Middle-Market – 4/27/2020

Issuers pay up to tap high yield bond market in April Source: Debtwire Par As the equity and debt markets regain their footing after a period of prolonged volatility and a virtual freeze in new issuance due to the coronavirus (COVID-19) pandemic, the high yield bond markets have opened back up as issuers begin to

Debtwire Middle-Market – 4/20/2020

Source: Cliffwater Direct Lending Index and BofA Merrill Lynch US High Yield Effective Yield The red line in the chart is the *Cliffwater Direct Lending Index (CDLI) current yield, which is based on the investment income of the underlying assets held by public and private BDCs. BDCs invest in middle market companies, and the Index

Debtwire Middle-Market – 4/13/2020

Secondary loan market continues to grind higher Source: Debtwire Par, Markit The secondary loan market continues to grind higher, adding over 2 points in the last week to reach an average bid of 85.26 (as of April 14), and is now up 9 points from its March 23 low. Despite the recent rebound, prices are

Debtwire Middle-Market – 4/6/2020

Source: Cliffwater Direct Lending Index and BofA Merrill Lynch US High Yield Effective Yield The red line in the chart is the *Cliffwater Direct Lending Index (CDLI) current yield, which is based on the investment income of the underlying assets held by public and private BDCs. BDCs invest in middle market companies, and the Index

Debtwire Middle-Market – 3/30/2020

Source: Cliffwater Direct Lending Index and BofA Merrill Lynch US High Yield Effective Yield The red line in the chart is the *Cliffwater Direct Lending Index (CDLI) current yield, which is based on the investment income of the underlying assets held by public and private BDCs. BDCs invest in middle market companies, and the Index

Debtwire Middle-Market – 3/23/2020

Oil & gas loan prices plummet 32 points amid coronavirus, oil price crash Source: Debtwire Par, Markit The weighted average bid for term loans issued by oil & gas sector borrowers has plummeted by roughly 32 points to 49.36 between 21 February and 23 March, exceeding the drop in the overall market, which has declined