Thomson Reuters

Leveraged Loan Insight & Analysis - 9/17/2018

US institutional market flex activity has favored issuers so far this month September deals in the institutional loan market have so far been well received by investors. The Flex Factor has tracked 6 flexed deals so far this month with 5 of them being in favor of issuers. This has allowed for an issuer friendly

Leveraged Loan Insight & Analysis - 9/10/2018

Primary yields have widened across the board in 3Q18 The average first-lien institutional term loan yield, assuming a three-year term to repayment is 6.41% so far this quarter, up from 5.77% in 2Q18. One of the main drivers behind increasing yields is the shift in the deal mix. So far in 3Q18, 58% of the

Leveraged Loan Insight & Analysis - 9/3/2018

US LBO loan volume tops US$100bn, up 32% year over year Following the proverbial summer slowdown in the last few weeks leading to Labor Day, the leveraged loan market, and more specifically, the sponsored loan market, hit the ground running on Tuesday, boosting a much anticipated deals pipeline. Price guidance for the permanent financing backing

Leveraged Loan Insight & Analysis - 8/13/2018

Loans backing cross border M&A deals at record high Despite a flurry of cancelled or withdrawn M&A transactions recently, the global M&A market remains very strong nearly eight months into 2018. Cross-border deals in particular have been especially robust with over US$1trln of announced transactions, an increase of 74% compared to the same time last

Leveraged Loan Insight & Analysis - 8/6/2018

A third BDC issues public equity this year, but issuance remains at 16-year low Source: Thomson Reuters LPC, Wells Fargo Securities LLC TriplePoint Venture Growth BDC, a venture capital BDC, announced it is tapping the public markets to raise follow-on equity making it only the third public BDC to raise new equity this year. The

Leveraged Loan Insight & Analysis - 7/30/2018

Middle market dominates for LBO activity with direct lenders stealing share from syndicated market New Co/New Traditions! Join us for a half day on September 12th for our 24th Annual Loans Conference. The middle market continues to remain a hot spot for LBO activity – however the numbers don’t always show it. Pre credit crisis (2004-2008), roughly

Leveraged Loan Insight & Analysis - 7/23/2018

Unitranche volume exploded in 2Q18 Unitranche volume hit a new high in 2Q18 since LPC began tracking this facility. 2Q18 issuance exploded to $8.67bn, up a whopping 178% from 1Q18’s low levels. Middle market lenders financed bigger deals in 2Q18 which also was a contributor to the pick up in unitranche volume. The average deal

Leveraged Loan Insight & Analysis - 7/16/2018

Middle market non-sponsored issuance jumps on the back of strong refi activity Middle market non-sponsored issuance jumped to US$27.3bn in 2Q18. This was up 29% from 1Q18 and was flat year-over-year. More refinancings drove the increase in loan issuance in this market. At US$21.3bn, non-sponsored middle market refis reached their highest level in three and

Leveraged Loan Insight & Analysis - 7/9/2018

Middle market sponsored syndicated volume reached US$20.9B in 2Q18 Middle market sponsored syndicated loan activity was pretty solid in 2Q18 reaching US$20.9bn, similar to 1Q18 issuance of $21.7bn. However, refinancings and repricings drove close to 40% of activity in 1Q18 and 2Q18 which is much higher than the mid 20% area in 2017. Furthermore, compared

Leveraged Loan Insight & Analysis - 7/2/2018

2Q18 US M&A loan volume sets quarterly record; 1H18 total also at historical high The US market cleared almost US$194bn in acquisition loan financing in 2Q18 via a series of jumbo deals, to set a new quarterly record. In turn, 1H18 M&A volume at US$363.5bn marked a record high for any half year period. At