Edition:
United Kingdom

David Brooke

SEC reforms open door to BDC market shakeup

11 Jul 2019

NEW YORK, July 11 (LPC) - The US Securities and Exchange Commission’s (SEC) fund of funds proposals potentially open the door to a shakeup in the Business Development Company (BDC) market.

Loan market reels from rumored rate cuts

13 Jun 2019

NEW YORK, June 13 (LPC) - Market expectation that the US Federal Reserve will cut rates, possibly as early as this year, has sent investors fleeing the loan market.

REFILE-US direct lenders lower fees, adapt to survive competitive squeeze

03 Jun 2019

NEW YORK, June 3 (LPC) - US direct lenders, grappling with intense competition in the US middle market, are lowering the fees they charge to investors and adopting other aggressive terms as they look to adapt to an intense new lending landscape.

BDC leverage reform grows divide between large and small players

20 May 2019

NEW YORK, May 20 (LPC) - A legislative change that has doubled the leverage cap for Business Development Companies (BDC) is set to fuel further bifurcation between larger and smaller platforms, as many start to get approval to increase debt on the balance sheet.

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.

UPDATE 1-Shrinking lender protections frustrate loan buyers

24 Apr 2019

NEW YORK, April 24 (LPC) - The imbedded risk of US leveraged loan packages with reduced lender protections is not reflecting on the trading values, to the dismay of investors who want to see a greater premium for the heightened risk exposure.

Shrinking lender protections frustrate loan buyers

24 Apr 2019

NEW YORK, April 24 (LPC) - The imbedded risk of US leveraged loan packages with reduced lender protections is not reflecting on the trading values, to the dismay of investors who want to see a greater premium for the heightened risk exposure.

Indivior’s loans take hit following fraud claims

11 Apr 2019

NEW YORK, April 11 (LPC) - Pharmaceutical company Indivior’s loan dropped in secondary trading following criminal charges relating to its Suboxone drug.

Multi-level marketers squeezed in the loan market

10 Apr 2019

NEW YORK, April 10 (LPC) - Loans for multi-level marketing (MLM) companies dropped in the secondary market amid growing concerns among investors about the business model during a period of record employment in the US and increasing scrutiny on workplace practices.

Fed’s dovish turn sends ripples through US leveraged loan demand

02 Apr 2019

NEW YORK, April 2 (LPC) - The US Federal Reserve’s decision to hold off on any further interest rate rises for the remainder of the year has sent retail investors fleeing leveraged loans, which are attractive in a rising rate environment because of their floating-rate coupons.

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