Direct Lending Deals

DL Deals: News & Analysis  - 7/18/2022

Private lending volume posts strong quarter, but a slowdown lies ahead Direct Lending Deals’ Private Data set picked up $56.9 billion in sponsored U.S. loan volume during the second quarter, to rebound from a weak first quarter of $20 billion, and beat the $40.4 billion recorded during the private lending binge that drove the final…

DL Deals: News & Analysis  - 6/27/2022

Jumbo volume in 1H 2022 reaches $30.8 billion to bring total tally to $86.5B Volume in the first half of 2022 for private loans sized at $1 billion or more has reached $30.8 billion, a level that dwarfs the $9.5 billion recorded in the same period last year, according to Direct Lending Deals. On a…

DL Deals: News & Analysis  - 5/23/2022

Private jumbo volume reaches second biggest monthly tally Jumbo private loan volume in May stands at $8.6 billion, the second largest monthly tally on record as the market approaches Memorial Day weekend and the start of the summer session. The $8.6 billion is across three borrowers —Nielsen, NPD/Information Resources and ManTech. NPD is the largest…

DL Deals: News & Analysis  - 4/25/2022

Direct lenders usher in new records for jumbos, recurring rev deals Competition between liquid and illiquid debt financing is heating up amid broader economic uncertainty generated by rising inflation, interest rate hikes and the war in Ukraine. Software company Kaseya surfaced this month with a $3.7 billion jumbo unitranche loan to kick Galway Insurance’s $3.4…

DL Deals: News & Analysis  - 1/24/2022

Volatility primes more records for jumbo unitranche loans Jittery markets are priming new records for jumbo unitranche financing. At least a few mandates are in the works that exceed Galway Insurance’s $3.4 billion record last year. Expect jumbos to emerge in support of buyouts, particularly in the software, insurance and healthcare sectors. About half of…

DL Deals: News & Analysis  - 1/17/2022

Unitranche spreads, yields hit 2021 low in December Competition moved unitranche spreads 25 bps lower in December to an average of L+540, a monthly low in 2021, despite the stabilizing effect heavy volume in the fourth quarter had on pricing for smaller borrowers and non-unitranche LBO financing. The decline dropped all-in yields to 6.7%, also…

DL Deals: News & Analysis  - 7/26/2021

Sponsors demanding larger DDTLs to act quickly in today’s buying bonanza Sponsors are demanding larger delayed-draw facilities so they can act quickly in today’s buying bonanza. Auctions have gone from a three-month process to about half that time or shorter in some cases. It’s much easier to hit a DDTL than go back to the…