Think

LevFin Insights BDC Portfolio News 12-3-18

Posted by Thomas Dunford on Dec 4, 2018 7:30:00 AM

LBOs to take out Elo Touch, Latham Pool debt held by BDVC, FSIC, GARS

Arrangers pressed forward with some of the final new-issue loans of 2018 last week, but it’s an open question as to how much enthusiasm remains among buysiders that have been buffeted by volatility in recent weeks. The recent downdraft has repriced the primary market, and issuers are seeking to address the issue with yield—and not just on dicier transactions.Meanwhile, high-yield’s heartbeat barely registered with a single $350 million print and a murky outlook on further deal flow as the loan market continued to dominate the waning supply in the final weeks of 2018.

Read More

Topics: LevFin Insights, News, Fixed Income, business development company, market analytics, Analytics, BDC, Middle Market

LevFin Insights BDC Portfolio News 11-19-18

Posted by Thomas Dunford on Nov 20, 2018 10:00:00 AM

Repricings at Avantor and MRO to reduce yield on credits held by CCT, BDVC, OCSI, BBDC, CION and Flat Rock

Editor’s note: Due to the Thanksgiving holiday, LFI BDC Portfolio News will not publish on Monday, Nov. 26. The report will resume publication on Monday, Dec. 3.

Download: LFI BDC Portfolio News 11-19-18 

The tone in the broader leveraged loan market deteriorated as last week progressed, complicated by a handful of high-profile earnings misses that came in as the traditional 45-day reporting period trailed off and the jumbo LifePoint Health deal that quickly faded in the secondary loan and bond markets despite a host of investor-friendly revisions. In many cases, price talk and structure are deeply in flux, and investors are increasingly skittish amid poor secondary performance as the list of recently issued loans bid below their OIDs grows.

Read More

Topics: LevFin Insights, News, BDC, business development company, Fixed Income, Middle Market, Analytics, market analytics

Levfin Insights BDC Portfolio News 11-13-18

Posted by Thomas Dunford on Nov 13, 2018 4:18:22 PM

Popular BDC holdings Global Tel Link, Sorenson aim to widen 1L margins; several credits up for add-ons appear in Barings BDC’s portfolio

A deluge of earnings took center stage last week and while results inevitably spurred a number of notable downside movers, the tone in the broader leveraged finance market slowly improved over the course of the week, opening the door for new opportunistic business such as Bausch Health’s latest refinancing effort. Among the week’s biggest earnings-related standouts were Air Methods, Akorn and Revlon.

Read More

Topics: News, LevFin Insights, Fixed Income, BDC Filings, Finance, market analytics, Analytics, Middle Market, Loans, business development company

LevFin Insights BDC Portfolio News 10-22-18

Posted by Thomas Dunford on Oct 22, 2018 4:16:14 PM

Portfolio mainstays Confie Seguros, McAfee pursue lower margins through respective refinancing, repricing

The brief turn two weeks ago toward caution in the leveraged-loan market amid volatility in high-yield and equities has proved to be but a blip amid a sea of endless liquidity, and that sentiment was affirmed last week as loans ignored another selloff in shares. Indeed for loans, it was business as usual with a pronounced emphasis on opportunistic activity. Bonds, too, got back to business, spurred by Uber’s successful $2 billion private offering, with other issuers jumping into the market in the wake of that upsized transaction.

Read More

Topics: News, LevFin Insights, portfolio, Fixed Income, business development company, Analytics, Middle Market, BDC

LevFin Insights BDC Portfolio News 10-9-18: FSIC’s yield to narrow in EmployBridge repricing; GLAD holds 2L debt up for repayment at Red Ventures

Posted by Thomas Dunford on Oct 9, 2018 4:34:39 PM

With September’s marquee M&A transactions put away, opportunistic activity ramped up further last week in both loans and bonds. The shift in technicals stemming from the lack of a formidable M&A calendar was particularly tangible in the loan market, as heavy investor demand raised the prospect for tight prints and aggressive documentation. Repricings, extensions and dividend recapitalizations were all in the mix, with arrangers using these transactions as a vehicle to effect other issuer-friendly revisions, including covenant stripping.

Read More

Topics: News, LevFin Insights, Fixed Income, portfolio, market analytics, Analytics, Middle Market, BDC, Loans, business development company


Are you using AdvantageData?

AdvantageData is your fixed income solution for pricing, analytics, reports, and insight on approximately:

  • 500,000+ U.S. and international corporate bonds
  • Over 6,200+ CDS reference entities
  • Over 22,000+ syndicated loans
  • Over 100 equity markets worldwide
  • One platform 16 products and services from debt to CDS to loans to mid-market
  • Used by top buy and sell-side firms worldwide

 

Subscribe to Email Updates

Recent Posts