KBRA DLD Default Forecasts for Liquid Credit: 3.25% ($45B) for HY, 4.5% ($65B) for BSL KBRA DLD is forecasting a 3.25% default rate by volume (4% by number) for high yield by year end, and a 4.5% rate for syndicated loans (5.5% by number). That equates to nearly $45 billion of HY volume and puts…

KBRA DLD Default Index: 2023 forecast is 2.5% for sponsored deals KBRA DLD’s 2023 default forecast is 2.5% for sponsor-backed direct lending loans, equating to roughly 30 defaults against the roughly 1,200 sponsored borrowers in the KBRA DLD Default Index. Table 1 The year-to-date (YTD) sponsored rate is 1.2%, which includes 14 defaults—mainly bankruptcies. Searchlight…

KBRA DLD tracks 214 deals in 1Q23 across U.S., Europe KBRA DLD tracked 214 direct lending deals in the first quarter across the U.S. and Europe. Even though Europe’s direct lending universe is much smaller than the U.S., the region’s count didn’t lag by much. Our tally drew 95 deals for Europe versus 119 in…