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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.
US CLO portfolios: average loan trades fell 7 to 13 points in March and April
In the wake of the spread of COVID-19, as secondary loan prices plummeted, average US CLO portfolio trade prices fell…
May 2020: U.S. Direct Lending UOP
After outpacing M&A add-on activity for the past six months, LBOs fell in May, to a 28% share of direct…
High-Yield and Private Credit
In our just-completed series on high-yield bonds, we concluded that issuer and investor activity has largely been driven by technical…
Private Debt Intelligence - 6/15/2020
The Private Debt Market Remains Crowded [wpdm_package id=’35477′] The private debt market remains crowded amid COVID-19. As at 15th of…
Not In Concert
Valuations of middle market private credit are less correlated to other public asset classes.
Deals on the agenda as Germany picks up
German-speaking markets are emerging from lockdown with strong appetite for finance. Europe was one of the first parts of the…
Middle Market Deal Terms at a Glance - June 2020
Source: SPP Capital Partners Contact: Stefan Shaffer stefan@sppcapital.com
Loan Stats at a Glance - 6/15/2020
Contact: Marina Lukatskymarina.lukatsky@spglobal.com
Libor floors are back in the institutional market
Investors are demanding Libor floors on institutional term loans as the Libor rate continues to drop. While 3-month Libor has…
How sponsors are handling the crisis
The economic impact of the COVID lockdowns was so swift that many investors “didn’t know what they didn’t know” at…








High Yield Bonds and Private Credit (Second of Two Parts)
“Time to go to cash,” we announced one night at the dinner table. It was early June. The Dow had…