During Q1 2024, borrowers returned to the US syndicated market to reprice costly private credit facilities - The US syndicated loan market has seen an uptick this year, with banks proactively pitching deals to win back...more
On this episode of Private Market Talks, we’re joined by Tim Flynn, Co-Founder and CEO of Hayfin, an alternative asset manager that has invested €35 billion of capital across more than 470 portfolio companies since its...more
A strong finish to 2023 helped to boost global leveraged loan issuance at the end of an otherwise rocky year for all key markets. The last 12 months were incredibly challenging for banks, investors and borrowers, as elevated...more
Recent years have seen significant growth and innovation in the fund finance industry — and, with an increase in the number and complexity of products in the market, it has become commonplace for industry publications and...more
Sponsors hope increasing competition and the flexibility of Australia’s leveraged finance market will provide increasing optionality during challenging times - Just over a year ago, TPG broke new ground with an AUD$1.5...more
Welcome to Debt Download, Goodwin’s monthly newsletter covering what you need to know in the leveraged finance market. We hope you are enjoying some early summer weather and (if you live in the Northeast) are breathing...more
Aggregate global buyout value dipped sharply in the second half of 2022 reverting to pre-pandemic levels—the first three months of 2023, however, have seen an uptick in volume...more
The hospitality industry is facing an unusual challenge. With rising consumer demand, hotels are hitting — and even exceeding — pre-pandemic levels for revenue per available room (RevPar) and EBITA. Yet interested investors...more
Private debt managers seized the opportunity to win market share in 2022 as leveraged loan and high yield bond activity slowed—moving into 2023, private debt players remain open for business, but mainly on their terms - ...more
European leveraged finance markets have been completely reconfigured in the past 12 months. Inflation, rising interest rates and geopolitical uncertainty have squeezed liquidity and seen high yield bond and leveraged loan...more
European leveraged finance markets saw significant inertia through the course of 2022 as high inflation, rising interest rates and cooling M&A activity put the brakes on leveraged loan and high yield bond issuance. How will...more
Welcome to Debt Download, Goodwin’s monthly newsletter covering what you need to know in the leveraged finance market. We hope your year is off to a good start!...more
Mining & metals companies can take advantage of low prices in the leveraged finance markets to manage their liabilities amid the expected recession. The current economic environment creates opportunities for the mining &...more
After a year of red-hot moves in the tech sector, markets have cooled down in 2022, as inflation and rate hikes prompted many investors to prioritize investment in safe haven asset classes....more
Leveraged finance activity slowed on both sides of the Atlantic in the first half of the year, as a tougher macroeconomic environment and events in Ukraine affected debt issuance in both Europe and the US....more
The first half of the year has marked an inflection point for US leveraged finance markets. After a buoyant but brief post-pandemic period in 2021, the combination of surging inflation, rising interest rates and events in...more
Complex financial products continue to present difficult issues for the Commission. In many instances the products involved are so complex that is may be questionable if any amount of policies, procedures and...more
Most of 2021 was characterized by free-flowing capital, as government aid propped up economies in response to COVID-19. Low interest rates and other central bank stimulus measures contributed to an environment that helped see...more
A rebound in European corporate transactions has driven a double-digit acceleration in leveraged finance earmarked for M&A (excl. buyouts), with a robust pipeline setting the stage for an active 2022. In the summer of...more
HEADLINES - ▪️ Buyout deal value in Western Europe hit an all-time record high by the end of 2021, more than doubling year-on-year ▪️ Private equity (PE) activity supported an 81% uplift in buyout loan issuance...more
HEADLINES - ▪️ In the US, leveraged loan issuance for 2021 reached US$1.4 trillion, a 63% increase year-on-year ▪️ The high yield bond market in the US was relatively flat, rising from US$428.3 billion in 2020 to...more
A flurry of activity saw year-on-year leveraged finance issuance in Europe hit new heights in 2021. Can this pace be maintained in the months ahead? Based on pipeline activity and investor appetite for growth, the answer...more
Issuers are tapping institutional loan markets for add-on debt at a rapid pace as private equity firms turn to buy-and-build strategies to lower entry multiples and accelerate deployment - Debt issuance to fund add-on...more
- In the US, leveraged loan issuance for 2021 reached US$1.4 trillion, a 63% increase year-on-year - The high yield bond market in the US was relatively flat, rising from US$428.3 billion in 2020 to US$429.7 billion in...more
HEADLINES - • Leverage loan technology and computer-related issuance in Western and Southern Europe almost doubled from annual pre-pandemic levels to €19.9 billion by the end of 2021 • Technology and computer-related...more