Debtwire Middle-Market – 5/8/2017

Source: Cliffwater Direct Lending Index and BofA Merrill Lynch US High Yield Effective Yield

Each year, the Debtwire Mid-Market European Forum charters the course of the rapidly evolving European mid-market leveraged finance space for the rest of the year. Ongoing competition between traditional and institutional lenders, significant dry powder held by debt funds and banks defending their market share make for a fascinating programme this year. This year’s event is scheduled for 24 May at the Four Seasons Park Lane in London. For more information contact Sarah Morrow +44 20 3741 1419

The red line in the chart is the *Cliffwater Direct Lending Index (CDLI) current yield, which is based on the investment income of the underlying assets held by public and private BDCs. BDCs invest in middle market companies, and the Index comprises of more than 6000 middle market loans – with 57% senior debt, 30% subordinate debt and 9% equity.