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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.
Avg. bid on Refinitiv's BDC Visible Loans Benchmark remains at the 80 context
Loans held by business development companies with mark-to-market pricing have stabilized in the 80 context in the last few days.…
April volume retreats as expected, May forecast is weak
Direct lending volume retreated in April, with transactions slipping to 43 from 67 in March, according to Direct Lending Deals.…
The bankruptcy question
Download PitchBook’s Report here. A looming question over the next several months is how many PE-backed companies will be forced into…
End of a Cycle
The onset of COVID-19 also signaled the expansion’s end; 1Q GDP slumped 4.8%, worst since 2008.
Private Debt Intelligence - 5/4/2020
Investors’ Response to COVID-19 [wpdm_package id=’34418′] As a result of a survey conducted by Preqin to investors in April 2020,…
Percentage of Loans with Uncapped Synergies & Cost Savings EBITDA Addbacks
Contact: Steven Miller
The passing opportunity for direct lenders
Companies that may have gone to the syndicated finance market are looking closely at more private alternatives. In Europe, a…
Loan Stats at a Glance - 5/4/2020
Contact: Marina Lukatsky marina.lukatsky@spglobal.com
Socially distancing from high multiples
Download PitchBook’s Report here. The median M&A multiple clocked in at 8.2x in Q1. That’s down from last year’s 9.8x median,…
Retailers expected to file Chapter 11 in the coming weeks as loan bids drop between 46%-66% this year
The retail sector, hit hard by the coronavirus economic shutdown, has seen a flurry Chapter 11-related activity in the last…
Covid-19: The Best and the Worst Industries
If you’re watching this broadcast from your home office, you’re not alone. According to one study, 97% of the US…







The Great Stay-In (Last of a Series)
As we wrap up our multi-part series on the COVID-19 crisis, we turn our attention to the path ahead, as…