North American Leveraged Finance Outlook 2026 Click here to download report. Fitch Ratings’ 2026 sector outlook for North American Leveraged Finance is neutral, reflecting broadly steady credit conditions across liquid markets and private debt. Most sectors carry neutral outlooks. Aerospace & Defense is the sole corporate sector with an improving outlook, while a handful are…
Sponsors Tap Leveraged Loan Market for Dividend Payouts at Record Pace With just two weeks before the start of the new year, dividend issuance has reached an all-time high in the US leveraged loan market. At $32.9b year-to-date, new money issuance supporting dividends surpassed 2021’s $28.9b figure for the most on record since Bloomberg began…
PE take-private deal activity Download PitchBook’s Report here. Middle-market take-private activity dwindled in Q3, with PE buyers underwriting just four announced or completed deals under $1 billion across North America and Europe…. Subscribe to Read MoreAlready a member? Log in here...
US primary market loan yields tighten in December The average primary market yield, assuming a 3-year term to repayment on first-lien institutional term loan Bs, decreased 26bp to 6.73% so far in December, down from 6.99% in November…. Subscribe to Read MoreAlready a member? Log in here...
The pros and cons of evergreen funds Liquidity has become highly prized in private markets, but a traditionally illiquid asset class such as private credit cannot easily adapt to the demand. One of the clear trends of 2025 has been an increasing demand for liquidity, even within private markets where the illiquidity premium has long…
US Life Insurer Investment Risk Rising from Private Letter Ratings Click here to learn more. Join Fitch for the upcoming Outlook panel: 2026 Leveraged Finance Credit Outlook Webinar Signs of emerging bubbles have increased in 2025 amid robust investor risk appetite, high market valuations, a rush of capex in AI-related industries and continued growth in…
US Leveraged Loans Return 4.86% Through November The Bloomberg US Leveraged Loan Index (Ticker: LOAN) returned 0.35% in November, bringing its year-to-date return to 4.86%. Average secondary market prices on US leveraged loans were 96.64 on November 28th after declining 11bps from the October 31st figure of 96.75…. Subscribe to Read MoreAlready a member? Log
Share of funds larger than predecessor: top 10% of funds by size Download PitchBook’s Report here. For this analysis, we broke apart the largest 10% of funds raised each year from the remaining 90%…. Subscribe to Read MoreAlready a member? Log in here...
Dueling bridge loans backing Netflix Inc. and Paramount bids for Warner Bros Discovery largest on record for US BSL market On the heels of Friday’s announcement that Netflix Inc. had won a bid to acquire Warner Bros Discovery’s TV and film studios as well as its streaming division forUS$83bn (including debt and equity)… Subscribe to
US Leveraged Loan Issuance Tapers Off in November November’s $53.6b of US institutional leveraged loan issuance was down $9.7b, or 15.3%, from the previous month’s $63.3b, marking a decline of 55% from the same month a year ago and the slowest month of issuance since May’s $33b…. Subscribe to Read MoreAlready a member? Log in