LCD and SP Global Market Intelligence are pleased to present a free replay of our in-depth analytical look at how today’s leveraged finance market compares to that of 2007–08, before the onset of the credit crisis: 10 Years Down the Road: The U.S. Leveraged Finance Markets, Then vs Now
This in-person complimentary event features analysis from high-yield bond market expert Martin Fridson and LCD’s Marina Lukatsky, as well as a discussion on the state of today’s market, featuring Crescent Capital Managing Director Jonathan Insull, LSTA Executive Director Lee Shaiman, Progow Executive Chairman Peter Gleysteen, and LCD Senior Editor/CLO market reporter Andrew Park. The panel is moderated by LCD Managing Director Ruth Yang.
A link for the replay is here.
The replay is free, and after registering for the presentation users can download the slides used for the analysis. These include:
- A brief history of the leveraged finance market, over the past 10 years (Yang)
- A look at credit quality progression in the high yield bond market (Fridson)
- The effect of record-low volatility (?) and reduced liquidity in the high yield market (Fridson)
- Evolution of the US leveraged loan mart: size, issuer quality, covenant-lite (Lukatksy)
- Risk vs Reward: Now, compared to pre-Lehman (Lukatsky)
- That state of the CLO market (Shaiman, Gleysteen, Park)
January 23, 2018
Featuring LCD’s high yield expert Martin Fridson. Some of the topics covered:
- Return vs risk, by asset category (with surprising results re distressed debt)
- Total return, by industry
- Default rate forecast
- Poll: Will US HY spreads go up/down/unchanged in 2018?
As well, the webinar features reviews/outlooks of the U.S. leveraged loan market, along with the European high yield and leveraged loan markets.
July 12, 2017
Featuring LCD CLO reporter Andrew Park. Some of the topics:
- A look at record-low yields in the leveraged loan market
- Analysis of loan market supply (new loan issuance) vs Demand (retail investment + CLO issuance)
- Specifics on CLO formation
- Cost of borrowing: US (cheap) vs Europe (not cheap)
- Why CLOs are attractive investments