Lien Girl

It finally happened! First ESG direct lending loan in the US - award goes to Barings prnewswire.com/news-releases/…

Check out the Fran, Dan, and Ran Show (Part II): Capital Markets 2021 - COVID Impact a... youtu.be/69JQBW1-bSU via @YouTube

Fran, Dan, and Ran Show: Capital Markets 2021 - COVID Impact and Outlook... youtu.be/tQk4lwlZ5uE via @YouTube

@davidand_brooke Ha ha. I will take CHI Overhead for $400 Alex.

If you're a garage door maker or build roof drainage systems now is the time to enter the debt markets! PE firms and direct lenders are devouring anything home-related.

@davidand_brooke David Brooke and team - working with you has been the best and most fun experience. I won’t be far away but will miss you in a major way

There are few people you can call a superstar in the private debt market, but @fran_beyers is one of them. Sorry to see her leaves, both professionally and as a friend, but she'll continue to shine no matter where she goes.

@itskelseybutler Thank you!! Super excited!

@fran_beyers Congrats on the move! :)

Big middle-market people move news -- @fran_beyers moves from @Refinitiv to advisory & asset management firm Cliffwater in a newly created private debt role.

@itskelseybutler @OwlRockCapital Congrats to Chris! Well deserved!

SCOOP: BDC analyst Chris York (most recently at JMP) has been hired by @OwlRockCapital Partners to develop institutional investors for its BDCs. 🦉💼💰 $ORCC

Today starts Refinitiv LPC's 2-day Virtual Loans Conference. Its not too late to register. Looking forward to listening to 8 heavy hitting panels today and tomorrow. So many great speakers are lined up. And attendance is free! solutions.refinitiv.com/LPCVirtualConf…

Another BDC earnings season has come and gone. If you want a quick 10 minute recap of the 2Q20 themes, check out myself, Andrew Hedlund and David Brooke's videocast!

Sign up for our virtual loan conference on Sept 15th and 16th. It’s totally free and we have so many great panels lined up.

BDCs are showing a rebound in nav per share in 2q20 but non accruals are still an issue. Out of 33 public BDCs to report so far 21 showed an increase in their portfolio non accrual rate

First an increase on leverage limits, then a Covid-relief measure introduced and now AFFE looks like it could be relaxed - BDCs have quite a few friends in Washington sec.gov/news/press-rel…

@TCWGroup's private debt fund experienced a cybersecurity breach in connection with broader firm, says investment holdings were not affected, according to SEC filing sec.gov/Archives/edgar…

Middle Market M&A unlikely to normalize this year, lenders are not expecting a rebound until sometime in the middle of 2021 at the earliest. institutionalinvestor.com/article/b1mfp6… via @iimag

Now with BDC earnings season over, myself, @fran_beyers and @AndrewHedlund discuss some of the highlights - Markdown inconsistencies, NAV declines and covenant breaches @LPCLoans youtube.com/watch?v=x1wnDU…

Myself @fran_beyers and @AndrewHedlund got together to discuss some of the key issues in the next round of BDC earnings - how far is NAV going to plunge? how deep will the dividend cuts be? and what liquidity issues will some face? @LPCLoans youtube.com/watch?v=e1K7K6…

Unitranche volume was down in 1Q20. Holds levels will be much lower moving forward compared to 2019 peak levels as lenders preserve cash for portfolio companies

Report on the expected dividend cuts in the BDC market - more to come as lenders contend with underperforming companies in 'non-cyclical' industries w/@AndrewHedlund @LPCLoans @ReutersUS reuters.com/article/bdc-mi…

With 3/31/20 passed, sources indicate issuers in harder hit sectors by COVID-19 struggled to meet P&I payments. The direct lending market is getting creative in how they are helping these issuers make payments.

Typically each year January starts out slow in middle market lending and then accelerates into February and more so into March, but this year volume dropped between February and March. This hasn't happened since the GFC back in 2008.