Credit

The Global Distressed Credit Weekly Wrap provides a comprehensive summary of the latest news for leveraged loans and high-yield bonds, and a rundown of courtroom bankruptcy activity.

The golf league’s reorganization provides for a new $300 million investment backed by London-based BC Partners, although players will own 52.5% of the reorganized league.

The primary market’s heady pace this week raises the possibility of a fourth straight record month of issuance.

The firm said cumulative YTD defaults total $9.1 billion across 45 issuers held in US CLOs.

Price talk for the seven-year covenant-lite TLB is S+350, with a 0% floor and an OID of 99-99.5.

The US High-Yield Bond Weekly Wrap is the definitive report on the latest activity in the high-yield and high-grade bond markets, featuring commentary and data on the week’s headline news.

HVAC is just one of the specialty trades that PitchBook expects to keep benefiting as data center construction drives demand for ancillary activity, including additional site work, electrification, and supporting infrastructure, well into 2027.

Fasanara Capital, based in London, will be the investment manager of the fund and will target short-duration, asset-backed credit strategies.

The US Private Credit & Middle Market Weekly Wrap highlights the latest activity in the private credit asset class, including in-depth stories, complemented by data on middle-market deals.

Direct lenders provided an estimated $28 billion across 124 sponsor-backed deals over the past three months, up from $23 billion across 101 deals in Q2.

Redemption requests at non-traded BDCs appear to remain elevated as the first Q3 figures come in.

With investors wary of debt-servicing hiccups as rates rise, strong earnings were a salve for key coverage ratios.

The US Private Credit Monitor provides a high-level view of private credit market activity. Topics covered include estimated volume and counts, spread distribution, syndicated and direct lending takeouts, and middle market CLO issuance.

The firm’s largest non-traded business development company opted to restrict withdrawals to its 5% cap.

The CEO of the $60B investment firm, Steven Klinsky, discusses distributions, the secondary market and what non-cyclical investing looks like today.

The European Leveraged Loan Index Monthly Wrap captures the dynamics of both the primary and secondary leveraged loan markets. Commentary and data include detailed analysis of Morningstar European Leveraged Loan Index returns and pricing trends. Topics discussed include Institutional loan issuance, maturity wall breakdowns, market supply/demand dynamics and returns by sector and asset class.

The financing will support “non-investment grade customer deployments” of the chips, which are used to train and process the outputs of AI models.

Software loan prices gained 127 bps in August, to 87.73% of par, while non-software loans gained 22 bps, to 97.06.