April 2017 Issue

    Month: April
    Year: 2017

    Back to Print Editions

    How regulation is making natural gas the new coal

    President Trump’s about-face on major carbon reduction efforts won’t affect fundamental energy trends.

    Termsheet: Qlik Technologies' tech support

    One of the largest private debt deals to-date was refinanced in April by two Wall Street banks. Nick Jardine looks at the deal in more depth

    RMBS: Back to the future

    RMBS, especially non-agency loans, were at the heart of the financial crisis. But investors remain interested in the strategy as a new regulatory approach appears on the horizon, writes Irwin Speizer

    Technology: Direct lending 2.0

    The future of institutional involvement in lending may be a combination of traditional and technology-led approaches. James Newsome of Arbour Partners explains why.

    Playing the long game

    Having once trailed, a new study shows US mezzanine debt now out-performs high-yield bonds by more than 3%. Does patient capital pay more?

    European Leveraged Finance: Borrowers have never had it so good

    With more flexibility, lower yields and high leverage multiples, a report hails the most borrower-friendly period in the history of leveraged finance. By Andy Thomson.

    Chinese NPLs: Are the stars aligning?

    The scale of opportunity for Chinese NPL deals appears vast, but there are hurdles in the way. Andy Thomson examines the findings of a report from PwC.

    Last Word: Appu Mundassery of HIG Capital

    Appu Mundassery has worked at HIG Capital since 2009 and recently made head of the firm’s European direct lending team. He outlines to David Brooke some of the challenges within the European market and how HIG fits into the broader picture.

    Capital Talk: A new dawn for Chorus

    Gilles Marchesin tells Andy Thomson about the evolution of risk-sharing transactions and why a window of opportunity is open in 2017.

    Asset-based lending: A market ready to take-off

    With borrowers wanting more flexibility and banks retrenching, lending against assets is a natural step for private debt firms, writes David Brooke. 

    Investor spotlight: Channelling new opportunities

    The FRR’s €600m tender is the latest vote of confidence in the growing French private debt market, David Brooke writes.

    Germany: Join the banking crowd

    The traditional lenders still dominate, but private debt is making greater inroads into the German market. Nick Jardine reports

    Issues with issuance

    Investors still need convincing about CLOs as spreads tighten on both sides of the Atlantic. However, the equity portion of the products remains attractive, finds Nick Jardine

    Earnings season: Q4 results

    The largest alternative asset managers and business development companies cap off a topsy-turvy 2016. Andrew Hedlund and Justin Slaughter look at the key figures

    BDCs: Dodd-Frank is just the beginning

    The private debt industry could be forgiven for focusing on one set of reforms, but there are three changes that could boost BDCs.