Thomas Dunford

Thomas Dunford
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LevFin Insights BDC Portfolio News 2-11-19

Posted by Thomas Dunford on Feb 11, 2019 10:45:57 AM

Genstar-backed companies drive M&A activity in positions held by AINV, PFLT, SUNS, Audax, TCPC and GSBD

The new-issue loan market turned a corner last week with a procession of closely watched, larger transactions wrapping—due in part to a resurgent high-yield market—leaving investors with little else to chew on. The sudden prospect of a slowing calendar flipped a switch, and accounts flooded into transactions they had previously been viewing with a cautious eye. The frenzy generated seven reverse flexes, including some that were being discussed wide of official guidance just a few days earlier. Indeed no loan deals widened as the market heated up.

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Topics: Analytics, BDC, market analytics, business development company, LevFin Insights, News

LevFin Insights BDC Portfolio News 2-4-19

Posted by Thomas Dunford on Feb 4, 2019 4:10:40 PM

Getty Images refinancing first-lien debt held by Barings BDC

Download: LFI BDC Portfolio News 2-4-19

While the loan market has hit a plateau after rallying in the opening days of 2019, high-yield continued to pick up steam, generating a bifurcation between loans and bonds in both the primary and secondary markets. As such, issuers have flocked to the bond market—including the secured-bond market—to optimize executions as last week’s big-ticket transactions for Dun & Bradstreet and TransDigm exemplify.

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Topics: Analytics, BDC, market analytics, business development company, LevFin Insights, News

LevFin Insights BDC Portfolio News 1-28-19

Posted by Thomas Dunford on Jan 29, 2019 9:12:24 AM

M&A continues to drive activity; LBO to take out P.F. Chang’s credits held by CĪON, FSK

Arrangers continued to peel more M&A loan business off the forward calendar last week, although early 2019 successes, driven by the opening-week rally, appear to be giving way to a slightly more cautious tone. A resurgent high-yield new-issue market is benefiting as a pair of borrowers are carving out secured notes to take pressure off multibillion-dollar loan executions.

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Topics: Analytics, BDC, market analytics, business development company, LevFin Insights, News

LevFin Insights BDC Portfolio News 1-22-19

Posted by Thomas Dunford on Jan 23, 2019 9:00:00 AM

M&A drives new debt for names in several portfolios, including recently combined FS KKR Capital

The loan market remained fixated on the primary calendar as $9.4 billion of new loans, all of it M&A- and LBO-related, entered syndication last week. Following the secondary market’s early January rebound, the primary also was off to a solid start last week with a series of oversubscribed transactions, accelerated timing and the return of reverse-flex activity as some new issues started to cement pricing levels well south of the December’s rate spike.

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Topics: Analytics, BDC, market analytics, business development company, LevFin Insights, News

LevFin Insights BDC Portfolio News 1-14-19

Posted by Thomas Dunford on Jan 14, 2019 11:56:42 AM

Aimbridge LBO to take out unitranche debt held by Bain Capital Specialty Finance, Golub

Download: LFI BDC Portfolio News 1-14-19

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Topics: Analytics, BDC, market analytics, business development company, LevFin Insights, News


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