Edition:
United Kingdom

Leela Parker Deo

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

17 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

11 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

05 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.

Regional lenders BB&T, SunTrust combine to scale up

07 Feb 2019

NEW YORK (LPC) - The combination of two Southeast regional banking giants BB&T Corp and SunTrust Banks Inc, in a deal valued at $66 billion , positions the combined company to compete with rival lenders on a national scale.

Mid-market M&A outlook strong, but slowdown looms: Citizens survey

29 Jan 2019

NEW YORK (LPC) - A favorable economic backdrop is expected to keep merger and acquisition (M&A) activity strong in 2019 for US mid-sized companies, but both buyers and sellers are factoring in a slowdown on the horizon, according to Citizens Commercial Banking’s annual survey.

US middle market investors look to senior direct lending funds

25 Jan 2019

NEW YORK, Jan 25 (LPC) - Middle market direct lending funds focusing on senior US leveraged loans are seeing a pickup in demand as investors seek protection in less risky debt in the late stages of the credit cycle, market participants said.

World News

India's Modi stuns opposition with huge election win

Indian Prime Minister Narendra Modi scored a dramatic election victory on Thursday, putting his Hindu nationalist party on course to increase its majority on a mandate of business-friendly policies and a tough stand on national security.