High Yield bond secondary prices tumble, sending yields to post-pandemic highs Source: BofA US HY Index, Debtwire Par Average prices for high yield bonds trading in the secondary market have taken a significant hit this year, falling from a high of 103.17 in January to just 92.31 on 4 May, according to the ICE BofA…
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…
Amid slowdown in leveraged lending, buyouts prevail Source: Debtwire Par, Markit While issuance in the overall market has slowed amid record levels of inflation and elevated volatility stemming from the war in Ukraine, leveraged loan and high yield bond issuance backing buyouts continued along at a steady pace. Leveraged loan volume increased 2% from the…
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…
More deals see pricing flex wide of talk since February Source: Debtwire Par, Markit Primary market pricing has jumped to its highest point since the coronavirus (COVID-19) pandemic sent shockwaves through the financial system in 2020, as inflation risks and ongoing uncertainty stemming from the war in Ukraine demand higher yields for investors willing to…
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…
Sectors with exposure to oil & gas see prices fall in secondary market Source: Debtwire Par, Markit Since the Russian invasion of Ukraine started on 24 February, average bids on term loans have slumped more than 2 points, as high fuel costs paired with record inflation eat into the post-pandemic economic recovery. After reaching a…
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…
Loan secondary pricing slumps amid Russia-Ukraine tensions Source: Debtwire Par, Markit Average bids on term loans in the US secondary market tumbled 156 basis points (bps) since hitting a high of 98.11 in January, as a combination of high inflation and escalating tensions between Russia and Ukraine sent jitters through financial markets. The downturn marks…
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…