LCD’s popular online Loan Market Primer has been updated to include second-quarter/first-half 2016 and historical U.S. analytical charts.
LCD is an offering of S&P Global Market Intelligence.
If you haven't checked out the Primer, take a look. It's a great promotion for the asset class and resource for newcomers or those interested in the leveraged loan market. We hope you'll share it with anyone who might find it useful.
The Primer can be found at LeveragedLoan.com, LCD's free website featuring select stories from LCD News, as well as loan market trends, stats, and analysis. The Primer also features great videos by Paddy Hirsch that explain how the senior secured loan and leveraged finance markets work.
Among the charts included with this release of the Primer:
- Leveraged loan volume – historical
- LBO loan volume
- Refinancing volume
- Market flex deals: issuer-friendly vs investor-friendly
- CLO issuance
- Loan fund assets under management
- Loan fund inflows/outflows
- Leveraged loan issuance by industry
- Purchase price multiples/equity contributions, LBOs
- Equity contribution: Large LBOs
- Largest private equity loans, 2Q 2016
- Covenant-lite loan issuance
- Historical leveraged loan default rate
The Loan Market Primer is one of LCD's most popular pieces. Updated annually (print) and quarterly (online) to include emerging trends, it is widely used by originating banks, institutional investors, private equity shops, law firms, and business schools worldwide.
Here’s the Primer table of contents (see the sub-menus for each category online):
- What is a Leveraged Loan?
- Market Background
- Leveraged Loan Purposes
- How are Loans Syndicated?
- Types of Syndications
- The Bank Book
- Leveraged Loan Investor Market
- Public vs. Private Markets
- Credit Risk – Overview
- Syndicating a Loan – by Facility
- Pricing a Loan – Primary Market
- Types of Syndicated Loan Facilities
- Second-Lien Loans
- Covenant-Lite Loans
- Lender Titles
- Secondary Sales
- Loan Derivatives
- Pricing Terms/Rates
- Original-Issue Discounts
- Voting Rights
- Mandatory Prepayments
- Spread Calculation
This story first appeared on www.lcdcomps.com, an offering of S&P Global Market Intelligence. LCD’s subscription site offers complete news, analysis and data covering the global leveraged loan and high yield bond markets. You can learn more about LCD here.