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Leveraged Lending: Regs & Stats

The past week has brought two notable research pieces on the state of credit. First, last Friday, saw the release of the Shared National Credit (SNC) Review, which discusses risks in the syndicated loan market. Second, this week, Covenant Review compared the credit stats of the largest LBOs of 2007, 2017 and 2018. We dissect both reports below.

Credit Brief(Ing)

Aside from a short bout of volatility in early February, when the average S&P/LSTA Index price shed 25 bps, the market started 2018 the way it left off 2017: Aggressively.

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Draft of the ESG Diligence Questionnaire

We all saw the increase in media coverage last year of the implications of ESG (Environmental, Social and Governance) factors in the financial markets and that trend seems to only be accelerating. About a year ago we started hearing directly from our buyside members that the number of ESG questions they were receiving from end […]

SOFR: Addressing Basis Biases

As highlighted in Nomura’s Special Topics on January 24th, basis risk has been on CLO managers’ (and equity holders’) minds. While the focus generally has been on one-month/three-month LIBOR basis, basis questions also have emerged in the SOFR space.

LSTA Newsletter: January 24, 2020

This week we recap secondary trading for 2019, give an update on LIBOR transition in the U.K., and let you know that we’ve published a credit agreement for investment grade term loans.