Debtwire Middle-Market – 1/11/2021

Strong start to the year for buyouts;
repricings make a return


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Source: Debtwire Par

Institutional loans backing buyout activity climbed to USD 40.2bn in 4Q20 from just USD 13.8bn in 3Q20. Despite the late-year increase in deal flow, LBO institutional loan issuance ended the year at USD 103bn, down from the USD 119bn posted in 2019. Loan portfolio managers point to the drop in multi-billion dollar buyout financings in 2020 compared to prior years – there were 24 LBO financings with an institutional loan component greater than USD 1bn compared to 31 in 2019.