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  Private Credit

  Venture lending evolving amid larger deals, equity investor pullback – SVB

  April 21, 2025

  PitchBook LCD spoke to SVB president Marc Cadieux to discuss some of the peculiar elements of this market cycle.

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  CLOs

  Middle market CLOs finished 2023 with ‘elevated’ CCC exposure – Fitch

  January 26, 2024

  Nine middle-market CLOs tracked by Fitch and within their reinvestment period were failing at least one ratings agency’s CCC+ concentration limit, noted Fitch.

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  Leveraged Loans

  Citi launches $2B private lending vehicle with alternative investment manager

  January 18, 2024

  LuminArx, which focuses on special situations, and other institutional partners will commit over $2 billion to support the venture, according to a Jan. 18 company statement.

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  Leveraged Loans

  Amid accommodating investor market, leveraged loan amendment activity soars anew

  January 18, 2024

  Amend-and-extend activity, which allows borrowers to push out loan maturities without refinancing into a new credit, soared in 2023.

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  Leveraged Loans

  Acrisure prints $925M high yield bond offering to yield 8.25%

  January 18, 2024

  Proceeds redeem in full the company’s 7% senior notes due Nov. 15, 2025, as well as pay the premiums and accrued interest to the redemption date.

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  Leveraged Loans

  Nuveen Private Capital hires head of business development in Korea

  January 18, 2024

  Koo’s appointment follows the hiring of Jamal Hammoud last November to enhance Nuveen’s presence in the Middle East.

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  Leveraged Loans

  Diamond Sports nets RSA, $450M DIP, Amazon investment and Sinclair settlement

  January 17, 2024

  The company said that it has agreed with “key creditors … on financial terms and a go-forward capital structure that will be the foundation of the reorganization plan.”

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  Leveraged Loans

  Single-B/CCC bonds a proxy for private credit – BofA Securities

  January 17, 2024

  The analysis also took into account higher spreads found in the private credit proxy vs. high-yield bonds generally, which has typically been a premium of 200 basis points.

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  Leveraged Loans

  Spirit Airlines bonds tumble again as next-step speculation swirls

  January 17, 2024

  Bonds backing Spirit Airlines Inc. took another tumble today after a ruling blocked its proposed acquisition by JetBlue Airways.

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  Leveraged Loans

  Webinar: 2024 US leveraged loan/private credit/defaults analysis & outlook

  January 16, 2024

  The webinar will analyze the latest trends in the US syndicated loan, private credit and CLO markets, with a special look at leveraged loan payment defaults and distressed exchanges.

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  Leveraged Loans

  Bonds lead European leveraged finance issuance, but loan deals wait in wings

  January 14, 2024

  A busy January is expected for European leveraged primary markets despite the soft start, as issuers seek to capitalise on attractive conditions across both high yield and loans, with refinancings in the spotlight.

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  Leveraged Loans

  Midsized private companies post highest earnings growth since Covid — Golub

  January 11, 2024

  “We expected to see strong growth in Q4 2023 and the data exceeded even our expectations,” said Golub Capital CEO Lawrence Golub.

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  Leveraged Loans

  European leveraged loans return 13.42% in 2023, outperforming US counterpart

  January 11, 2024

  The first-lien, secured loan asset class bested high yield bonds during the year, and crushed equities.

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  Leveraged Loans

  With optimism rising and credit spreads falling, riskier loan borrowers rush to reprice

  January 11, 2024

  Riskier debt issuers are taking advantage of improved market sentiment to slash borrowing costs, often on deals put in place less than a year ago.

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  Leveraged Loans

  Hewlett Packard inks $14B term loan commitment backing Juniper buy

  January 10, 2024

  The jumbo investment-grade credit comes amid a dearth of M&A activity in the traditional leveraged finance space.

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  Leveraged Loans

  Reflecting credit optimism, leveraged loan trading prices top par for first time in 3 years

  January 3, 2024

  The move above the par level comes as the secondary loan market surged over the last few months of 2023, resulting in a banner year for the asset class.

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  Leveraged Loans

  US leveraged loan default rates move higher after two-dozen defaults in 2023

  January 3, 2024

  To put the year-end level in context, the historical average default rate (by amount) for the leveraged loan market is 2.67%, and the 10-year average is 1.83%.

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  Leveraged Loans

  AlixPartners predicts 2024 restructuring activity will equal or surpass 2023’s

  January 1, 2024

  As in 2023, restructuring activity likely will be concentrated in telecom, healthcare technology/software, retail, consumer and commercial real estate.

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