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Free LCD/S&P Global Market Intelligence Webinars

Free Event: Downstream Impact of Current Leveraged Loan Market Dynamics 11/1/18

A new, on-demand Webinar from LCD and S&P Global Market Intelligence is now available, examining the downstream impact of current U.S. leveraged loan market dynamics.

The free Webinar can be viewed here. All the slides used in the presentation are available for download.

This in-person event, conducted on Oct. 29, features a panel discussion moderated by LCD Sr. Editor Shivan Bhavnani, with

  • Andrew Bellis, Managing Director, Head of Liquid Loans at Partners Group
  • Pat Daugherty, President & Chief Investment Officer, Glacier Lake Capital
  • Mitchell Drucker, Managing Director at Garrison Investment Group
  • Randy Schwimmer, Senior Managing Director, Head of Origination & Capital Markets at Churchill Asset Management

Panel topics:

– Covenant erosion
– Unrestricted versus restricted subsidiaries
– Portability: What is it, and why are people talking about it?
– What will recovery rates look like after the next downturn?
– How does the current market (peak?) stack up vs 2007/08?
– What will the market see in 2019?

subordinated debt cushion

Also in this Webinar:

  • LCD Managing Director Ruth Yang provides a detailed look at credit risk, loan market recoveries, and the (considerable) value of a debt cushion.
  • Andrew Watt, Managing Director, S&P Global Ratings, focuses on that state of today’s credit market, and whether there are warning signals that the cycle is ending.
  • LCD Managing Editor Tim Cross presents an overview of today’s U.S. leveraged loan market, focusing on recent big-ticket LBOs, leverage, and issuance.

3Q18 Global High Yield Outlook (with Marty Fridson) 10.19.18

LCD/S&P Global Market Intelligence’s webinar detailing the third-quarter 2018 high-yield markets, and a look ahead to the fourth quarter, is now available to view free, on-demand.

This presentation features analysis from Marty Fridson of LCD and Lehmann Livian Fridson Advisors, along with John Atkins, Luke Millar, and Ruth Yang of LCD.

You can view the webinar here.

In this quarter’s presentation:

  • HY returns, vs Treasuries, equities
  • Total HY return, by region
  • Total return, by ratings
  • Total return, by maturity
  • Total return, by industry
  • Credit spread curve
  • HY bond prices
  • Europe leveraged finance volume: M&A
  • Cross-border activity
  • New-issue yield vs guidance

LCD presents these high-yield market updates each quarter.


M&A Outlook, with Focus on Debt, Private Equity

S&P Global Market Intelligence is pleased to present a free webinar detailing today’s M&A market, including how current and potential obstacles might affect the leveraged finance world:

M&A Overview, with Focused Insight on the Debt and Private Equity Markets 

  • Date: Thursday, October 11, 2018
  • Time: 11:00 am – 12:00 pm Eastern time
  • Duration: 1 hour

You can register for the webinar here (link).

Included in the webinar: Transaction activity has always been impacted by numerous outside factors. Recent complications include Brexit, trade wars, and tariffs. With numerous potential influences, what is the current state of the market, based on these latest trends?

Join S&P Global Market Intelligence for a complimentary webinar, where industry experts share their insights while focusing on the M&A, Debt, and Private Equity transactional markets.

  • Analyzing recent global M&A volumes and factors driving activity. What is the outlook of M&A deals for the US?
  • Debt markets and LBO activity: What is the current state of the market?
  • Deep dive into private equity including buy and sell-side conditions and strategies

Moderator
Lawrence Choy
Associate Director – Corporates Segment
S&P Global Market Intelligence

 

Panelists
Nathan Stovall
Senior Research Analyst – FIG Research
S&P Global Market Intelligence

 

Ruth Yang
Managing Director – Leveraged Commentary & Data
S&P Global Market Intelligence

 

Justin Abelow
Managing Director – Houlihan Lokey
Financial Sponsors Group

Webinar viewers can, while registering, submit questions to be answered by the panelists.


2Q18 Global High Yield Outlook (with Marty Fridson)

LCD/S&P Global Market Intelligence’s webinar detailing the second-quarter 2018 high yield markets, and a look ahead to the second half of the year, is now available to view free, on-demand.

This presentation features analysis from Marty Fridson of LCD and Lehmann Livian Fridson Advisors, along with John Atkins, Luke Millar, and Ruth Yang of LCD.

You can view the webinar here.

hy default recessions

In this quarter’s presentation:

  • Today’s dire high-yield headlines, vs. market realities
  • U.S. high-yield issuance sinks …
  • … though M&A/LBO share of market rises
  • HY prices in the secondary soften noticeably
  • European high-yield issuance sinks, as well …
  • … with a host of offerings pulled from market
  • High-yield spreads rise in the U.S. and Europe

hy prices

LCD presents these high-yield market updates each quarter.

The charts used in the presentation are available for download.


Free Webinar: 1Q 2018 US/Europe High Yield Analysis (Fridson)

LCD/S&P Global Market Intelligence’s webinar detailing the First-Quarter 2018 High Yield Markets is now available to view, on-demand.

This complimentary presentation features analysis from Marty Fridson of LCD and Lehmann, Livian, Fridson Advisors, along with John Atkins, Luke Millar, and Ruth Yang of LCD.

You can view the webinar here.

In this quarter’s presentation:

  • Treasury yields rise while high yield sinks
  • High yield upholds hybrid reputation
  • High yield returns favor shorter maturities
  • Better-rated credits underperform
  • High yield outperforms vs better-quality comps
  • In the red: a look at industry returns
  • US high yield volume, pricing
  • Europe high yield volume, LBO activity
  • Spreads, Europe vs US

LCD presents these high yield market updates each quarter.

The charts used in the presentation are available for download.


The Global Credit Markets – 10 Years After the Credit Crunch

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)

Global High Yield Markets: 2017 Review/2018 Outlook

January 23, 2018

Featuring LCD’s high yield expert Martin Fridson. Some of the topics covered:

  • Yields
  • 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?

webinar chart 1

As well, the webinar features reviews/outlooks of the U.S. leveraged loan market, along with the European high yield and leveraged loan markets.


Leveraged Finance Yields (and CLOs): How Low Can They Go?

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

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