Think

The Hunt For Data: Middle Market and Illiquid Loan Valuation

Posted by Alex Buzby on Sep 25, 2018 12:41:53 PM

Even in markets where established data infrastructure is limited, such as syndicated loans, reliable sources of data that are indicative of a liquid security’s value are available through market data vendors and broker quotes. When evaluating illiquid securities like middle market or directly originated loans, the effort of data aggregation becomes much more difficult and is often assumed to be an exercise in futility. We would disagree.

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Topics: syndicated, Loans, Direct Lending, download, illiquid, Fixed Income, Valuation, BDC, business development company, Middle Market

The Middle Market Loan Advantage: A Look Behind The Curtain

Posted by David Diggins on Sep 18, 2018 5:01:01 PM

[Transcribed from video]

Introducing the Middle Market Loan Advantage. The newest edition to AdvantageData’s suite of credit data products. The Middle Market Loan Advantage complements our syndicated loan and BDC Advantage modules. With [~4500**] middle market loans, the Middle Market Loan Advantage shines a bright light on this opaque market.

How do we do it? AdvantageData aggregates information from news sources, trading desks, buy and sell-side filings, and more.

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Topics: Middle Market, Loans, Valuation, Restructuring, Direct Lending, Investment Banks, Analytics, Syndicated Bonds, BDC, business development company

Sourcing and Utilizing Market Data for The Valuation of Middle Market and Illiquid Loans

Posted by Alex Buzby on Oct 13, 2017 2:19:45 PM

In this summary Advantage Data aims to highlight the challenges faced in sourcing and utilizing market data for valuation of illiquid and middle market loans. We will consider the overall methods of aggregating and applying data to loans in this space and how the issues surrounding the lack of readily available information can be overcome. 

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Topics: Middle Market, Valuation

Avaya Inc. Loan Performance Since Chapter 11 Filing on Friday

Posted by Nick Buenaventura on Jan 25, 2017 2:29:24 PM

This past Friday, Avaya Inc., announced that it had filed for Chapter 11 bankruptcy protection in attempt to reduce its load of $6.3 billion in debt. The telecommunications company has been burdened by debt since an $8.2 billion buyout in 2007 by private equity companies, Silver Lake Partners and TPG Capital. Looking at intraday broker loan quotes on Avaya's L+525 2020, today's market opened at a 83 7/8 bid and 84 5/8 offer. Since then, the market has trended down to most recently a 83 1/2 bid and 84 offer. The L+750 DIP remains constant at 102 3/4 and 103 1/2.

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Topics: Loans, Valuation, Chapter 11, Restructuring


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

  • 529,400+ U.S. and international corporate bonds
  • Over 6,200+ CDS reference entities
  • Over 22,000+ syndicated loans
  • Over 100 equity markets worldwide
  • One platform 14 asset classes from debt to CDS to loans to mid-market
  • Used by top buy and sell-side firms worldwide

 

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