Yields on institutional term loans have inched higher so far in April, after dropping in March. The average yield, assuming a three-year term to repayment is 5.66 percent in April, up from 5.28 percent in March. Still April levels are below the 6 percent threshold,… Subscribe to Read MoreAlready a member? Log in here...
European corporate credit risk shrinking ITRAXX-Europe 5-yr spread lowest since December 2007 Volatility in Europe’s credit markets has dropped since QE announcement European markets unfazed by neighbouring Greek and Ukraine problems…. Subscribe to Read MoreAlready a member? Log in here...
Data drives the finance industry. Private equity is no exception – once the calendar flips to January 1, we tally the industry’s annual total and compare it to… Subscribe to Read MoreAlready a member? Log in here...
It was not an auspicious start to the year for ABL lenders. At under$20 billion 1Q15 asset based loan volume was down 13 percent year over year. On a deal count basis, the news was oddly mixed – with 51 credits… Subscribe to Read MoreAlready a member? Log in here...
The macro picture has dominated the credit markets in recent months, but the low interest rate environment is creating conditions ripe for M&A activity and single name stories. This week saw FedEx buy Dutch rival logistics firm TNT Express for an agreed… Subscribe to Read MoreAlready a member? Log in here...
CLO issuance hit a monthly record of $14.7 billion in March as managers overcame uncertainty around the onset of risk retention to finish the quarter in strong fashion. Issuance increased in each month of the… Subscribe to Read MoreAlready a member? Log in here...
We expected to see a strong start this year for PE deal flow in the U.S. What we found was pretty subdued, especially considering the relatively soft fourth quarter that closed out 2014. Typically, fourth quarter numbers are… Subscribe to Read MoreAlready a member? Log in here...
Lufthansa is one of several airline credits to have seen its CDS spreads tighten in line with the falling oil price. But the tragedy last week has led to investors focusing on the German firm, and the scrutiny is inevitably negative. At the beginning of March Lufthansa’s… Subscribe to Read MoreAlready a member? Log in
Andy Kessler published an attention-getting op-ed in the Wall Street Journal this week. “The glory days of private equity are over,” he says, citing rising interest rates, more PE firms competing for… Subscribe to Read MoreAlready a member? Log in here...
US syndicated loan volume took a tumble in 1Q15 to log just over $350 billion, down 27% compared to year ago levels and a more substantive 40% drop over 4Q14 totals. The decline was most notable among leveraged issuers who pushed almost… Subscribe to Read MoreAlready a member? Log in here...