Commentary
Bye-bor
By all accounts it was worth waiting for. The 10th Procrastination Research Conference, held last month in Chicago, featured sixty…
Read MoreHow Big is the Middle Market? (Last of a Series)
So far we’ve used three methodologies to size the universe of middle market loans. Using annual issuance data and average…
Read MoreHow Big is the Middle Market? (Third of a Series)
Last week we looked at sponsored middle market loan volume to come up with an idea of how large the…
Read MoreHow Big is the Middle Market? (Second of a Series)
To get a better handle on the total universe of middle market loans, let’s define what we mean by the…
Read MoreHow Big is the Middle Market? (First of a Series)
As great mysteries of life go, it’s not quite in the same category as what’s the universe made of, how…
Read MoreRefi Madness
If sheer volume means anything, total syndicated loan activity in the US for the first half of the year was…
Read MoreFall Risk
It was probably mission impossible, but we gamely tried this week to complete a personal Top Ten list. This one…
Read MoreThe 80/20 Rule of Private Credit
“Capital is destiny.” We’re not sure this pronouncement will make it into the next edition of Bartlett’s Familiar Quotations, but…
Read MoreThe Case for Covenants (Last of a Series)
“When things are good, people don’t pay attention to covenants, but when things go sour, covenants are their only line…
Read MoreThe Case for Covenants (Part Four)
It’s not surprising so much fuss has been made about the proliferation of cov-lite structures in the leveraged loan market.…
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