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Private Credit Defaults 101: Back to School
As Labor Day approaches, the unofficial end of summer is upon us. But, before we get too sad, there is also the familiar back-to-school energy.
Loan Stats at a Glance - 4/12/2021
Contact: Marina Lukatskymarina.lukatsky@spglobal.com
Covid Impact on CLOs
So what happened to CLOs during Covid? When the world stopped last March, as our own CLO manager, Kelli Marti,…
1Q21 leveraged issuance marks four year high at US$474bn; 1Q21 HY bond volume sets new record
Building on the early signs of market recovery observed in 4Q20, issuers of leveraged debt took advantage of accommodative conditions…
Private Debt Intelligence - 4/5/2021
Private Debt: Risk/Return by Fund Type [wpdm_package id=’44242′] Across private debt strategies, returns and return dispersion data varies greatly. Direct…
Percentage of Loans with F&C Tranche / Pro Forma EBITDA >0.9x
(Past performance is no guarantee of future results.) Contact: Steven Miller
Buy-and-build correlates to more secondary buyouts
PitchBook is publishing a new analyst note next week that does a deep dive on add-ons. One of the more…
Alpha Bets
CLO asset and liability spreads move in concert, down now below pre-Covid levels.
Will a lack of fuel derail private debt in the UK?
A new survey highlights the importance of private debt in the UK market. But there are concerns over the weakness…
Borrowers and sponsors alike capitalize on opportunistic loan market
Source: Debtwire Par Opportunistic deals have continued to flood the loan market in March, as a lack of new loan…
Loan Stats at a Glance - 4/5/2021
Contact: Marina Lukatskymarina.lukatsky@spglobal.com
CLOs: A Vehicle Inspection Report
“Anytime loan market technicals shift, there’s always a view that CLOs are the end of Western civilization as we know…
Secondary market levels continue to trend higher
Prior to the pandemic, the average bid on the North America Overall-Market cohort of loans was in the 97.5 context,…








CLOs Revisited – Ratings, Risks, and Returns (Third of a Series)
By blocking the Suez Canal last month, the Ever Given made headlines and created a massive shipping traffic jam. Three…