This week we continue our conversation with Fran Beyers, Senior Market Analyst at Thomson Reuters LPC. Thomson Reuters LPC has been a leading provider of loan market news, data and analysis for over 30 years.  Fran has been with LPC since 2009 providing analysis and market commentary on the middle market. Second of two parts – View part one

The Lead Left: Does that include junior capital?

Fran Beyers: Yes. Over the past year we’ve tracked about $3.3 billion in mezzanine issuance and $4.3 billion in middle market second lien volume. That’s pretty sizeable when you consider that syndicated second lien volume has diminished greatly over the last few quarters.

The collection of these deals opened my eyes to how big and vast the middle market is. I don’t think anyone really has a good handle on its sheer size.