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The Lead: The Price of Admission
Next time you are in Barcelona, stop at the Dow Jones Bar. There, drink prices move all night, as you watch the ticker tape like a crowded trading floor. Great for a night out.
Leveraged Loan Insight & Analysis - 9/15/2014
The percentage of LBO deals with leverage levels greater than six times has returned to 2007 levels. So far in 2014,…
Leveraged Loan Insight & Analysis - 9/8/2014
The average yield assuming a three year term to repayment, on first-lien institutional tranches is at 5.56 percent so far…
Leveraged Loan Insight & Analysis - 9/1/2014
On the back of increasingly unsettling global headlines, the capital markets took a beating earlier this month. As the equity…
Leveraged Loan Insight & Analysis - 8/18/2014
Global volatility has spread down to the leveraged loan market and investors are pushing back. Twenty one first-lien institutional term…
Leveraged Loan Insight & Analysis - 8/11/2014
The percentage of LBO deals with leverage levels greater than six times is returning to 2007 levels. So far in 2014,…
Leveraged Loan Insight & Analysis - 8/4/2014
After a record-breaking 2Q14, there was a sharp pull-back in the HY bond market in July. In fact, a number…
Leveraged Loan Insight & Analysis - 7/28/2014
The middle market is quite a diverse market place and yields vary based on lender type and EBITDA size. In…
Leveraged Loan Insight & Analysis - 7/21/2014
Cumulative CLO assets under management (AUM) increased to $335 billion in July with CLO AUM reaching $65 billion for CLOs…
Leveraged Loan Insight & Analysis - 7/14/2014
LBO volume is strong in 2014, already reaching $47 billion in 1H14 with a significant amount of deal volume in…
Leveraged Loan Insight & Analysis - 7/07/2014
At $244 billion, 2Q14 leveraged loan issuance was down 14 percent from 1Q14 levels and a much higher 31 percent…
Leveraged Loan Insight & Analysis - 6/30/2014
High-yield bond issuance in Europe has outpaced leveraged loan issuance so far in 2014, inverting a trend that has stood…
Leveraged Loan Insight & Analysis - 6/23/2014
At nearly $240 billion, 1H14 sponsored loan volume to date is on a steady upward trajectory, with a 21percent increase over…
Leveraged Loan Insight & Analysis
2014 CLO issuance sits well over $50 billion so far this year. With more than $10 billion in CLOs pricing in each…
Leveraged Loan Insight & Analysis
Loans are appealing to investors because they offer a cash coupon, an interest rate hedge, security, seniority in the capital structure and covenants. Oh wait, did we say covenants? Our bad! Not only is covenant lite running rampant in the loan market, but covenanted deals are also providing investors with less protection today compared to the past. Based on leveraged deals with at least one covenant tracked by LPC via SEC filings, the amount of covenants in covenanted deals is at an all time low.
Leveraged Loan Insight & Analysis
The long awaited pick-up in M&A-related lending is finally making a comeback this year. The second quarter has seen many deals coming to…
Leveraged Loan Insight & Analysis
The middle market yield premium on first-lien institutional term loans has dropped to just 66bp this quarter; its lowest level…
