Edition:
India

Leela Parker Deo

Middle market loan issuance stabilizes in 2Q, strong 2H expected

12 Jul 2019

NEW YORK, July 11 (LPC) - US middle market syndicated loan issuance jumped 48% to US$39.6bn in the second quarter of 2019 from meager levels in the first quarter, and is poised to gain steam as the second half of the year progresses.

US syndicated lending disappoints with lowest 2Q tally in 7 years

28 Jun 2019

NEW YORK, June 28 (LPC) - US syndicated lending turned in a lackluster performance in the second quarter, amounting to the lowest 2Q total in seven years and dashing expectations for a meaningful boost to first half issuance following an already lean start to 2019.

BDCs add mid-market CLOs to funding mix

18 Jun 2019

NEW YORK, June 17 (LPC) - FS KKR Capital Corp is the latest Business Development Company (BDC) to issue a middle market Collateralized Loan Obligation (CLO) fund as the sector seeks to diversify funding sources and drive portfolio growth.

Rapid rise of direct lending pushes firms to split risk

15 May 2019

NEW YORK, May 15 (LPC) - Direct lending funds, which are providing capital to middle market companies in increasing amounts, are turning to fellow funds to reduce credit exposure.

US middle market loan yields fall amid low dealflow

03 May 2019

NEW YORK, May 3 (LPC) - Middle market institutional term loan yields fell in the second quarter of 2019, reversing six consecutive quarters of upward momentum, as investor demand continues to exceed a limited supply of deals.

SEC proposal pushes managers to disclose more information

18 Apr 2019

NEW YORK, April 17 (LPC) - A new regulatory proposal would force managers of closed-end funds to disclose more information including factors affecting performance as well as investment strategies, a requirement previously reserved for other types of investments.

BDC leverage differentiation is focus in 2019 – Fitch

15 Apr 2019

NEW YORK, April 15 (LPC) - Fitch Ratings in an industry update for Business Development Companies (BDCs) said it is focused on leverage differentiation among funds looking to employ greater leverage following the passage the Small Business Credit Availability Act in 2018, amid continued competitive challenges.

ESG principles prompt lenders to pass on NSO Group loan

12 Apr 2019

NEW YORK, April 11 (LPC) - Investors’ response to a US$500m equivalent leveraged loan for Israeli cyber surveillance firm NSO Group highlights the increasing extent to which environmental, social and governance (ESG) principles are guiding banks’ and investors’ lending decisions as they start to calculate the ethical impact of investing.

BDCs rebound in 2019 after year-end slump

22 Mar 2019

NEW YORK, March 22 (LPC) - Business Development Company (BDC) share prices are rebounding after hitting a near three-year low in December and are outperforming the S&P/LSTA leveraged loan index as well as the S&P 500.

Strategic acquisitions provide growth opportunities in slowing economy

06 Mar 2019

New York, March 5 (LPC) - A slowing economy in the US combined with still steep price tags on target companies has private equity buyers focused on making strategic add-on acquisitions to existing middle market portfolio companies as a pathway to growth, bankers say.

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