Panellists and delegates at PDI’s Capital Structure Forum in London this week agreed that covenant-lite deals have no place in mid-market lending. Why, then, are cov-loose agreements on the rise?
3 min read · 30 October 2015
Eight in ten senior executives said that they will increase allocations to income-producing alternative credit, according to a new BlackRock survey.
2 min read · 27 October 2015
A burst of rationality seems to have struck the US leveraged loan market with investors demanding higher pricing and even pushing back on loose structures. Will it last and should lenders be wary if it does?
2 min read · 23 October 2015
The battle over TICC Capital is a colourful spectacle that both encapsulates and distracts from the burning issue for BDCs: poor performers drag the whole sector down.
2 min read · 16 October 2015
Senior margins have edged up at least 5 basis points on average, Real Estate Capital reports.
2 min read · 09 October 2015
Managers speaking publicly and on the sidelines at this week’s PDI Forum in New York say deal making is slowing as lenders assess conflicting market signals.
2 min read · 01 October 2015
Cerberus has found itself bogged down in claims of a corrupt payment to ‘fixers’ working on its $1.2bn loan portfolio purchase in Northern Ireland. The political storm should be a warning to investors who see Europe as a risk-light jurisdiction.
2 min read · 25 September 2015
The Financial Stability Board says cutting tax biases in favour of debt would reduce corporate demand for credit.
2 min read · 22 September 2015
Some have suggested that fundraising is slowing as a result of a fall of deal-making by private lenders. The figures don’t support that hypothesis.
3 min read · 18 September 2015
Fitch Ratings said that the performance of European senior secured loans held firm during a summer of market volatility.
2 min read · 17 September 2015
