Columns are amount in billions of dollars, count of deals, percentage of total in dollars.
Rate (L+)
| 7/2011 | 8/2011 | 9/2011 | 10/2011 | 11/2011 | 12/2011 | 1/2012 | 2/2012 | 3/2012 | 4/2012 | 5/2012 | 6/2012 | 7/2012 |
|
Below 150 bps | 0 | 0 | 0.200 | 0 | 0 | 0 | 0 | 0.275 | 0 | 0 | 0 | 0.100 | 0 |
|
150 | 2.725 | 2.350 | 3.205 | 7.562 | 1.250 | 1.485 | 0.275 | 0.725 | 2.630 | 1.860 | 1.155 | 3.080 | 0.350 |
|
175 | 3.980 | 2.000 | 1.875 | 0.335 | 0 | 6.722 | 2.240 | 1.375 | 3.108 | 2.300 | 2.405 | 1.960 | 1.800 |
|
200 | 0.875 | 2.178 | 4.075 | 0.495 | 0.460 | 0.530 | 1.145 | 0.875 | 6.280 | 5.900 | 1.350 | 0 | 0.650 |
|
225 | 0.395 | 1.825 | 0.870 | 0.500 | 2.033 | 1.125 | 3.112 | 5.425 | 3.090 | 2.445 | 3.075 | 0.715 | 0.785 |
|
250 | 2.950 | 0.525 | 1.700 | 0.950 | 0.998 | 0.527 | 1.640 | 2.000 | 0.985 | 0.635 | 0.973 | 1.135 | 1.700 |
|
275 | 1.462 | 0.375 | 2.530 | 0.880 | 2.425 | 2.643 | 1.530 | 0.550 | 1.075 | 1.345 | 0.425 | 0.150 | 1.225 |
|
300 | 0.788 | 0 | 2.200 | 0.735 | 1.923 | 0.570 | 2.520 | 8.590 | 4.270 | 0.250 | 0.075 | 0.650 | 2.660 |
|
325 | 0.510 | 0.250 | 0.350 | 0.235 | 1.160 | 1.504 | 1.700 | 2.192 | 2.377 | 0.175 | 0.950 | 0.630 | 0.425 |
|
350 | 0.205 | 0.790 | 0.340 | 0.730 | 2.975 | 0 | 1.970 | 0 | 1.344 | 1.275 | 0 | 0 | 3.275 |
|
375 | 0.275 | 0 | 0.790 | 0.900 | 0.075 | 0.310 | 0.295 | 2.009 | 2.525 | 2.995 | 3.250 | 0.756 | 0.500 |
|
400 | 1.020 | 0.030 | 1.060 | 0.134 | 0.300 | 0.150 | 0.660 | 4.598 | 4.470 | 0.375 | 1.410 | 0.416 | 1.730 |
|
425 | 1.850 | 0 | 0 | 0 | 1.775 | 0 | 1.150 | 1.123 | 0.600 | 4.240 | 3.869 | 2.094 | 0.300 |
|
450 | 1.770 | 0 | 1.350 | 0.203 | 0.200 | 1.025 | 0.817 | 0.610 | 1.420 | 0.060 | 2.340 | 0 | 3.910 |
|
475 | 0.455 | 0.415 | 0 | 0.640 | 0 | 0.125 | 0.515 | 1.855 | 0.940 | 1.510 | 0.400 | 0.700 | 0.418 |
|
500 bps and upward | 10.151 | 1.125 | 7.784 | 5.459 | 5.800 | 5.784 | 6.509 | 5.681 | 12.486 | 10.889 | 14.783 | 8.812 | 8.064 |
|
Fixed rate | 0 | 0.050 | 0.672 | 0.030 | 0.161 | 0.450 | 0.375 | 0.300 | 0.308 | 0.203 | 0.790 | 0 | 0.080 |
|
NA | 8.740 | 14.713 | 17.924 | 14.829 | 11.122 | 14.248 | 13.599 | 16.104 | 9.989 | 13.841 | 17.924 | 12.162 | 14.970 |
|
Other | 0.250 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.675 | 0 | 0 | 0.250 | 0 |
|
Total | 38.402 | 26.625 | 46.925 | 34.616 | 32.655 | 37.197 | 40.052 | 54.287 | 58.572 | 50.297 | 55.175 | 33.611 | 42.842 |
|
|
|
| Q3/2011 | Count | Q4/2011 | Count | Q1/2012 | Count | Q2/2012 | Count | Q3/2012 | Count | YTD | Count | Total | Count | Last 12 months | Count | YTD Share
|
Below 150 bps | 0.200 | 1 | 0 | 0 | 0.275 | 1 | 0.100 | 1 | 0 | 0 | 0.375 | 2 | 0.575 | 3 | 0.575 | 3 | 0.11%
|
150 | 8.280 | 16 | 10.297 | 18 | 3.630 | 10 | 6.095 | 16 | 0.350 | 1 | 10.075 | 26 | 28.652 | 61 | 25.927 | 53 | 3.01%
|
175 | 7.855 | 19 | 7.057 | 15 | 6.723 | 17 | 6.665 | 19 | 1.800 | 4 | 15.188 | 33 | 30.100 | 74 | 26.120 | 56 | 4.54%
|
200 | 7.128 | 15 | 1.485 | 9 | 8.300 | 25 | 7.250 | 13 | 0.650 | 3 | 16.201 | 29 | 24.813 | 65 | 23.938 | 48 | 4.84%
|
225 | 3.090 | 13 | 3.658 | 12 | 11.627 | 28 | 6.235 | 16 | 0.785 | 3 | 18.647 | 33 | 25.395 | 72 | 25.000 | 51 | 5.57%
|
250 | 5.175 | 14 | 2.474 | 12 | 4.625 | 8 | 2.743 | 15 | 1.700 | 3 | 9.068 | 17 | 16.718 | 52 | 13.768 | 31 | 2.71%
|
275 | 4.367 | 9 | 5.948 | 16 | 3.155 | 16 | 1.920 | 7 | 1.225 | 2 | 6.300 | 15 | 16.615 | 50 | 15.153 | 33 | 1.88%
|
300 | 2.988 | 6 | 3.228 | 15 | 15.380 | 31 | 0.975 | 6 | 2.660 | 10 | 19.015 | 26 | 25.230 | 68 | 24.442 | 36 | 5.68%
|
325 | 1.110 | 6 | 2.899 | 8 | 6.269 | 15 | 1.755 | 8 | 0.425 | 2 | 8.450 | 16 | 12.459 | 39 | 11.948 | 22 | 2.52%
|
350 | 1.335 | 12 | 3.705 | 9 | 3.314 | 7 | 1.275 | 2 | 3.275 | 4 | 7.864 | 8 | 12.904 | 34 | 12.699 | 18 | 2.35%
|
375 | 1.065 | 3 | 1.285 | 5 | 4.829 | 12 | 7.001 | 15 | 0.500 | 3 | 12.330 | 18 | 14.680 | 38 | 14.405 | 21 | 3.68%
|
400 | 2.110 | 6 | 0.584 | 5 | 9.727 | 23 | 2.201 | 13 | 1.730 | 3 | 13.659 | 28 | 16.352 | 50 | 15.332 | 33 | 4.08%
|
425 | 1.850 | 5 | 1.775 | 5 | 2.873 | 6 | 10.203 | 21 | 0.300 | 2 | 13.376 | 15 | 17.001 | 39 | 15.151 | 19 | 3.99%
|
450 | 3.120 | 10 | 1.427 | 7 | 2.847 | 11 | 2.400 | 6 | 3.910 | 12 | 9.157 | 12 | 13.704 | 46 | 11.934 | 20 | 2.73%
|
475 | 0.870 | 7 | 0.765 | 4 | 3.310 | 13 | 2.610 | 6 | 0.418 | 3 | 6.338 | 14 | 7.973 | 33 | 7.518 | 20 | 1.89%
|
500 bps and upward | 19.060 | 84 | 17.043 | 74 | 24.676 | 106 | 34.484 | 115 | 8.064 | 30 | 67.225 | 103 | 103.327 | 409 | 93.176 | 147 | 20.08%
|
Fixed rate | 0.722 | 6 | 0.641 | 6 | 0.983 | 5 | 0.993 | 3 | 0.080 | 1 | 2.056 | 6 | 3.418 | 21 | 3.418 | 12 | 0.61%
|
NA | 41.377 | 119 | 40.198 | 136 | 39.691 | 149 | 43.927 | 150 | 14.970 | 59 | 98.588 | 291 | 180.163 | 613 | 171.423 | 469 | 29.44%
|
Other | 0.250 | 1 | 0 | 0 | 0.675 | 2 | 0.250 | 2 | 0 | 0 | 0.925 | 1 | 1.175 | 5 | 0.925 | 1 | 0.28%
|
Total | 111.951 | 221 | 104.469 | 260 | 152.911 | 323 | 139.083 | 283 | 42.842 | 82 | 334.836 | 688 | 551.255 | 1169 | 512.854 | 1088 | 100.00%
|
|
|
Upsized? |
|
|
|
| 7/2011 | 8/2011 | 9/2011 | 10/2011 | 11/2011 | 12/2011 | 1/2012 | 2/2012 | 3/2012 | 4/2012 | 5/2012 | 6/2012 | 7/2012 |
|
Yes | 0.670 | 1.465 | 2.550 | 6.964 | 5.815 | 2.575 | 4.872 | 1.540 | 3.600 | 6.190 | 4.545 | 1.752 | 2.585 |
|
No | 37.507 | 25.160 | 42.794 | 27.518 | 25.827 | 32.337 | 33.585 | 52.497 | 54.137 | 40.711 | 48.585 | 31.858 | 37.382 |
|
Downsized | 0.225 | 0 | 1.581 | 0.134 | 1.013 | 2.286 | 1.595 | 0.250 | 0.835 | 3.397 | 2.045 | 0 | 2.875 |
|
Total | 38.402 | 26.625 | 46.925 | 34.616 | 32.655 | 37.197 | 40.052 | 54.287 | 58.572 | 50.297 | 55.175 | 33.611 | 42.842 |
|
|
|
| Q3/2011 | Count | Q4/2011 | Count | Q1/2012 | Count | Q2/2012 | Count | Q3/2012 | Count | YTD | Count | Total | Count | Last 12 months | Count | YTD Share
|
Yes | 4.685 | 12 | 15.354 | 26 | 10.012 | 23 | 12.488 | 27 | 2.585 | 4 | 25.085 | 21 | 45.124 | 92 | 44.454 | 39 | 7.49%
|
No | 105.461 | 334 | 85.681 | 317 | 140.219 | 453 | 121.153 | 390 | 37.382 | 138 | 298.754 | 656 | 489.896 | 1632 | 452.390 | 1033 | 89.22%
|
Downsized | 1.806 | 6 | 3.433 | 13 | 2.680 | 9 | 5.441 | 17 | 2.875 | 3 | 10.996 | 13 | 16.235 | 48 | 16.010 | 18 | 3.28%
|
Total | 111.951 | 221 | 104.469 | 260 | 152.911 | 323 | 139.083 | 283 | 42.842 | 82 | 334.836 | 688 | 551.255 | 1169 | 512.854 | 1088 | 100.00%
|
|
|
Flex? |
|
|
|
| 7/2011 | 8/2011 | 9/2011 | 10/2011 | 11/2011 | 12/2011 | 1/2012 | 2/2012 | 3/2012 | 4/2012 | 5/2012 | 6/2012 | 7/2012 |
|
Down | 1.720 | 0.570 | 1.040 | 0.640 | 4.995 | 0.212 | 6.849 | 5.895 | 2.449 | 1.480 | 0.595 | 2.155 | 2.545 |
|
No | 35.408 | 26.055 | 43.544 | 33.466 | 27.160 | 36.615 | 33.203 | 48.392 | 53.723 | 41.828 | 49.880 | 30.788 | 39.447 |
|
Up | 1.274 | 0 | 2.341 | 0.510 | 0.500 | 0.370 | 0 | 0 | 2.400 | 6.989 | 4.700 | 0.667 | 0.850 |
|
Total | 38.402 | 26.625 | 46.925 | 34.616 | 32.655 | 37.197 | 40.052 | 54.287 | 58.572 | 50.297 | 55.175 | 33.611 | 42.842 |
|
|
|
| Q3/2011 | Count | Q4/2011 | Count | Q1/2012 | Count | Q2/2012 | Count | Q3/2012 | Count | YTD | Count | Total | Count | Last 12 months | Count | YTD Share
|
Down | 3.330 | 10 | 5.847 | 16 | 15.194 | 32 | 4.230 | 15 | 2.545 | 5 | 21.968 | 22 | 31.145 | 78 | 29.425 | 29 | 6.56%
|
No | 105.007 | 326 | 97.242 | 332 | 135.318 | 450 | 122.496 | 389 | 39.447 | 139 | 297.261 | 657 | 499.509 | 1636 | 464.101 | 1046 | 88.78%
|
Up | 3.614 | 16 | 1.380 | 8 | 2.400 | 3 | 12.357 | 30 | 0.850 | 1 | 15.607 | 11 | 20.601 | 58 | 19.327 | 15 | 4.66%
|
Total | 111.951 | 221 | 104.469 | 260 | 152.911 | 323 | 139.083 | 283 | 42.842 | 82 | 334.836 | 688 | 551.255 | 1169 | 512.854 | 1088 | 100.00%
|
|
|
Type |
|
|
|
| 7/2011 | 8/2011 | 9/2011 | 10/2011 | 11/2011 | 12/2011 | 1/2012 | 2/2012 | 3/2012 | 4/2012 | 5/2012 | 6/2012 | 7/2012 |
|
Revolver | 18.590 | 18.247 | 25.292 | 22.140 | 14.723 | 22.882 | 15.310 | 20.567 | 22.294 | 19.120 | 23.815 | 14.588 | 12.852 |
|
TLA | 1.800 | 0.200 | 2.625 | 1.400 | 1.857 | 2.945 | 3.372 | 3.975 | 3.390 | 4.275 | 2.325 | 0.900 | 5.440 |
|
Term | 11.227 | 6.618 | 13.211 | 5.552 | 7.182 | 5.838 | 10.409 | 12.786 | 9.205 | 9.614 | 16.530 | 12.312 | 12.685 |
|
Institutional | 5.677 | 1.035 | 4.625 | 4.424 | 8.592 | 5.356 | 9.755 | 15.114 | 20.890 | 15.930 | 10.005 | 4.415 | 11.270 |
|
Second/third/junior lien | 0.596 | 0.175 | 1.125 | 0.300 | 0.235 | 0.177 | 0.495 | 0.730 | 2.330 | 0.658 | 1.920 | 0.530 | 0.470 |
|
Delayed draw | 0.075 | 0 | 0.046 | 0.800 | 0.065 | 0 | 0.710 | 1.115 | 0.462 | 0.700 | 0.580 | 0.865 | 0.125 |
|
LoC | 0.437 | 0.350 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
|
revolver | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
|
Total | 38.402 | 26.625 | 46.925 | 34.616 | 32.655 | 37.197 | 40.052 | 54.287 | 58.572 | 50.297 | 55.175 | 33.611 | 42.842 |
|
|
|
| Q3/2011 | Count | Q4/2011 | Count | Q1/2012 | Count | Q2/2012 | Count | Q3/2012 | Count | YTD | Count | Total | Count | Last 12 months | Count | YTD Share
|
Revolver | 62.129 | 203 | 59.745 | 215 | 58.171 | 223 | 57.523 | 224 | 12.852 | 61 | 128.547 | 463 | 250.420 | 926 | 231.831 | 785 | 38.39%
|
TLA | 4.625 | 8 | 6.202 | 19 | 10.738 | 24 | 7.500 | 21 | 5.440 | 12 | 23.678 | 18 | 34.505 | 84 | 32.705 | 28 | 7.07%
|
Term | 31.057 | 93 | 18.572 | 72 | 32.401 | 121 | 38.457 | 100 | 12.685 | 44 | 83.543 | 129 | 133.172 | 430 | 121.944 | 182 | 24.95%
|
Institutional | 11.337 | 24 | 18.372 | 35 | 45.760 | 93 | 30.349 | 57 | 11.270 | 21 | 87.379 | 70 | 117.088 | 230 | 111.411 | 82 | 26.10%
|
Second/third/junior lien | 1.896 | 20 | 0.712 | 11 | 3.555 | 15 | 3.108 | 21 | 0.470 | 4 | 7.133 | 3 | 9.741 | 71 | 9.145 | 5 | 2.13%
|
Delayed draw | 0.121 | 2 | 0.865 | 4 | 2.287 | 9 | 2.145 | 11 | 0.125 | 2 | 4.557 | 7 | 5.543 | 28 | 5.468 | 8 | 1.36%
|
LoC | 0.787 | 2 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.787 | 2 | 0.350 | 1 | 0.00%
|
revolver | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 1 | 0 | 1 | 0 | 1 | 0.00%
|
Total | 111.951 | 221 | 104.469 | 260 | 152.911 | 323 | 139.083 | 283 | 42.842 | 82 | 334.836 | 688 | 551.255 | 1169 | 512.854 | 1088 | 100.00%
|
|
|
Moody's Rating |
|
|
|
| 7/2011 | 8/2011 | 9/2011 | 10/2011 | 11/2011 | 12/2011 | 1/2012 | 2/2012 | 3/2012 | 4/2012 | 5/2012 | 6/2012 | 7/2012 |
|
Baa3 | 0 | 0 | 0 | 0 | 0 | 0 | 0.350 | 0 | 0 | 0 | 0 | 0.400 | 0 |
|
Ba1 | 3.000 | 0.420 | 2.865 | 1.600 | 0.530 | 0 | 1.250 | 1.450 | 6.375 | 1.960 | 1.087 | 0 | 0 |
|
Ba2 | 0.200 | 0.100 | 0 | 2.855 | 2.100 | 0 | 2.422 | 10.680 | 3.025 | 0.235 | 3.090 | 3.245 | 5.015 |
|
Ba3 | 2.740 | 0.715 | 2.140 | 2.289 | 5.945 | 2.414 | 5.710 | 4.817 | 10.120 | 3.042 | 5.980 | 1.850 | 2.230 |
|
B1 | 3.987 | 0 | 2.715 | 0.895 | 2.065 | 2.315 | 4.304 | 6.254 | 7.608 | 11.735 | 1.160 | 6.912 | 7.015 |
|
B2 | 3.639 | 0 | 0.845 | 1.060 | 1.905 | 0.775 | 0.845 | 2.330 | 2.770 | 0.840 | 2.675 | 0.435 | 1.150 |
|
B3 | 0 | 0 | 0.200 | 0 | 0.175 | 0.100 | 1.583 | 0.450 | 0.475 | 0 | 1.310 | 0.375 | 0.200 |
|
Caa1 | 0.150 | 0 | 0.350 | 0.075 | 0.075 | 0.062 | 0.320 | 0.615 | 0.985 | 0.387 | 0.965 | 0.780 | 0.450 |
|
Caa2 | 0 | 0 | 0.100 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.115 | 0 | 0 |
|
NR | 24.685 | 25.390 | 37.709 | 25.841 | 19.860 | 31.532 | 23.268 | 27.691 | 27.214 | 32.098 | 38.792 | 19.613 | 26.782 |
|
Total | 38.402 | 26.625 | 46.925 | 34.616 | 32.655 | 37.197 | 40.052 | 54.287 | 58.572 | 50.297 | 55.175 | 33.611 | 42.842 |
|
|
|
| Q3/2011 | Count | Q4/2011 | Count | Q1/2012 | Count | Q2/2012 | Count | Q3/2012 | Count | YTD | Count | Total | Count | Last 12 months | Count | YTD Share
|
Baa3 | 0 | 0 | 0 | 0 | 0.350 | 2 | 0.400 | 1 | 0 | 0 | 0.750 | 2 | 0.750 | 3 | 0.750 | 2 | 0.22%
|
Ba1 | 6.285 | 10 | 2.130 | 6 | 9.075 | 18 | 3.047 | 7 | 0 | 0 | 12.122 | 15 | 20.537 | 41 | 17.537 | 21 | 3.62%
|
Ba2 | 0.300 | 2 | 4.955 | 9 | 16.127 | 29 | 6.570 | 17 | 5.015 | 11 | 27.712 | 33 | 32.967 | 68 | 32.767 | 37 | 8.28%
|
Ba3 | 5.595 | 16 | 10.648 | 27 | 20.648 | 36 | 10.873 | 39 | 2.230 | 11 | 33.750 | 41 | 49.993 | 129 | 47.253 | 60 | 10.08%
|
B1 | 6.702 | 28 | 5.276 | 20 | 18.166 | 64 | 19.808 | 53 | 7.015 | 17 | 44.989 | 76 | 56.966 | 182 | 52.979 | 90 | 13.44%
|
B2 | 4.484 | 18 | 3.740 | 17 | 5.945 | 21 | 3.950 | 15 | 1.150 | 4 | 11.045 | 22 | 19.269 | 75 | 15.630 | 34 | 3.30%
|
B3 | 0.200 | 1 | 0.275 | 2 | 2.507 | 13 | 1.685 | 5 | 0.200 | 2 | 4.393 | 10 | 4.868 | 23 | 4.868 | 11 | 1.31%
|
Caa1 | 0.500 | 2 | 0.212 | 3 | 1.920 | 10 | 2.132 | 15 | 0.450 | 3 | 4.502 | 5 | 5.214 | 33 | 5.064 | 5 | 1.34%
|
Caa2 | 0.100 | 1 | 0 | 0 | 0 | 0 | 0.115 | 1 | 0 | 0 | 0.115 | 1 | 0.215 | 2 | 0.215 | 1 | 0.03%
|
NR | 87.785 | 274 | 77.233 | 272 | 78.173 | 292 | 90.503 | 281 | 26.782 | 97 | 195.458 | 486 | 360.476 | 1216 | 335.791 | 830 | 58.37%
|
Total | 111.951 | 221 | 104.469 | 260 | 152.911 | 323 | 139.083 | 283 | 42.842 | 82 | 334.836 | 688 | 551.255 | 1169 | 512.854 | 1088 | 100.00%
|
|
|
Use of Proceeds |
|
|
|
| 7/2011 | 8/2011 | 9/2011 | 10/2011 | 11/2011 | 12/2011 | 1/2012 | 2/2012 | 3/2012 | 4/2012 | 5/2012 | 6/2012 | 7/2012 |
|
Acquisition | 8.600 | 4.760 | 8.335 | 4.258 | 4.970 | 3.229 | 1.170 | 1.570 | 3.829 | 9.078 | 6.462 | 8.535 | 8.485 |
|
Capex | 0.150 | 0.150 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.330 |
|
Dividend/recap | 0.975 | 0 | 0.096 | 0.134 | 0.150 | 0.980 | 0.430 | 5.287 | 5.060 | 4.381 | 1.281 | 0.800 | 2.615 |
|
Exit financing | 0 | 0 | 0 | 0 | 0 | 0 | 0.904 | 0 | 0 | 0 | 0 | 0 | 0 |
|
GCP | 2.795 | 6.270 | 2.875 | 6.237 | 3.150 | 3.464 | 5.710 | 3.427 | 2.998 | 1.806 | 4.555 | 2.920 | 0.255 |
|
LBO | 5.314 | 0.865 | 8.681 | 4.949 | 4.897 | 5.187 | 3.973 | 0.840 | 0.595 | 3.640 | 5.280 | 3.752 | 5.218 |
|
Refinance | 5.195 | 5.973 | 8.772 | 3.433 | 8.360 | 7.710 | 15.440 | 20.515 | 33.807 | 19.748 | 16.169 | 4.960 | 13.987 |
|
Multiple/Other/NA | 15.373 | 8.608 | 18.166 | 15.605 | 11.127 | 16.628 | 12.425 | 22.648 | 12.283 | 11.643 | 21.427 | 12.643 | 11.952 |
|
Total | 38.402 | 26.625 | 46.925 | 34.616 | 32.655 | 37.197 | 40.052 | 54.287 | 58.572 | 50.297 | 55.175 | 33.611 | 42.842 |
|
|
|
| Q3/2011 | Count | Q4/2011 | Count | Q1/2012 | Count | Q2/2012 | Count | Q3/2012 | Count | YTD | Count | Total | Count | Last 12 months | Count | YTD Share
|
Acquisition | 21.695 | 29 | 12.457 | 28 | 6.569 | 25 | 24.075 | 32 | 8.485 | 12 | 39.129 | 68 | 73.281 | 125 | 64.681 | 112 | 11.69%
|
Capex | 0.300 | 2 | 0 | 0 | 0 | 0 | 0 | 0 | 0.330 | 1 | 0.330 | 1 | 0.630 | 3 | 0.480 | 2 | 0.10%
|
Dividend/recap | 1.071 | 6 | 1.264 | 4 | 10.777 | 27 | 6.463 | 15 | 2.615 | 5 | 19.855 | 47 | 22.189 | 57 | 21.214 | 52 | 5.93%
|
Exit financing | 0 | 0 | 0 | 0 | 0.904 | 1 | 0 | 0 | 0 | 0 | 0.904 | 1 | 0.904 | 1 | 0.904 | 1 | 0.27%
|
GCP | 11.940 | 31 | 12.851 | 40 | 12.135 | 32 | 9.281 | 22 | 0.255 | 2 | 21.672 | 56 | 46.463 | 127 | 43.668 | 118 | 6.47%
|
LBO | 14.860 | 24 | 15.034 | 27 | 5.408 | 20 | 12.672 | 23 | 5.218 | 8 | 23.298 | 51 | 53.192 | 102 | 47.878 | 91 | 6.96%
|
Refinance | 19.940 | 41 | 19.503 | 38 | 69.762 | 107 | 40.878 | 72 | 13.987 | 22 | 124.627 | 201 | 164.069 | 280 | 158.874 | 266 | 37.22%
|
Multiple/Other/NA | 42.146 | 88 | 43.360 | 123 | 47.356 | 111 | 45.713 | 120 | 11.952 | 32 | 105.021 | 263 | 190.527 | 474 | 175.154 | 446 | 31.36%
|
Total | 111.951 | 221 | 104.469 | 260 | 152.911 | 323 | 139.083 | 283 | 42.842 | 82 | 334.836 | 688 | 551.255 | 1169 | 512.854 | 1088 | 100.00%
|
|
|
Industry Sector (by SIC code) |
|
|
|
| 7/2011 | 8/2011 | 9/2011 | 10/2011 | 11/2011 | 12/2011 | 1/2012 | 2/2012 | 3/2012 | 4/2012 | 5/2012 | 6/2012 | 7/2012 |
|
Agriculture (0xxx) | 0 | 0.100 | 0 | 0 | 0.100 | 0 | 0 | 0 | 0 | 0 | 0.539 | 0.480 | 0 |
|
Mining (1xxx) | 0.300 | 0.800 | 0 | 1.100 | 0 | 1.000 | 0.525 | 0.170 | 0.560 | 0.200 | 3.637 | 0 | 0.802 |
|
Oil and gas (13xx) | 0.850 | 2.725 | 3.268 | 3.325 | 1.375 | 3.575 | 2.100 | 3.905 | 1.188 | 4.575 | 6.126 | 2.210 | 1.310 |
|
Construction (15xx) | 0 | 1.500 | 0.500 | 0 | 0.750 | 0 | 0.140 | 0 | 0.075 | 0 | 0.410 | 0.175 | 0 |
|
Manufacturing (2xxx, 3xxx) | 14.440 | 8.365 | 13.972 | 12.120 | 7.950 | 8.863 | 17.297 | 16.390 | 15.338 | 13.716 | 19.205 | 10.916 | 6.490 |
|
Transportation (4xxx) | 2.769 | 0.325 | 0.425 | 0 | 1.210 | 1.374 | 0.740 | 3.077 | 0 | 0.175 | 0.150 | 1.640 | 1.745 |
|
Communications (48xx) | 1.615 | 0 | 1.008 | 1.684 | 5.641 | 1.313 | 3.850 | 1.080 | 7.769 | 4.791 | 2.356 | 4.325 | 5.200 |
|
Electric, gas, sanitary services (49xx) | 3.574 | 0 | 0 | 2.695 | 0 | 0.922 | 2.145 | 3.085 | 2.700 | 1.840 | 3.865 | 2.675 | 0.589 |
|
Wholesale (5xxx) | 4.620 | 2.545 | 8.650 | 3.110 | 2.377 | 6.850 | 3.289 | 7.260 | 8.075 | 11.425 | 2.780 | 4.304 | 9.700 |
|
Finance, insurance, real estate (6xxx) | 3.210 | 4.995 | 2.915 | 4.362 | 2.247 | 5.580 | 3.820 | 3.740 | 4.275 | 2.925 | 7.193 | 1.630 | 3.070 |
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Services (7xxx) | 4.390 | 4.465 | 12.822 | 4.960 | 6.255 | 5.270 | 5.869 | 13.234 | 14.630 | 9.425 | 5.913 | 2.205 | 7.136 |
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Health services (8xxx) | 2.632 | 0.805 | 3.365 | 1.260 | 4.750 | 2.450 | 0.277 | 2.347 | 3.961 | 1.226 | 3.000 | 3.050 | 6.800 |
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Total | 38.402 | 26.625 | 46.925 | 34.616 | 32.655 | 37.197 | 40.052 | 54.287 | 58.572 | 50.297 | 55.175 | 33.611 | 42.842 |
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| Q3/2011 | Count | Q4/2011 | Count | Q1/2012 | Count | Q2/2012 | Count | Q3/2012 | Count | YTD | Count | Total | Count | Last 12 months | Count | YTD Share
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Agriculture (0xxx) | 0.100 | 1 | 0.100 | 1 | 0 | 0 | 1.019 | 2 | 0 | 0 | 1.019 | 2 | 1.219 | 4 | 1.219 | 4 | 0.30%
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Mining (1xxx) | 1.100 | 4 | 2.100 | 6 | 1.255 | 7 | 3.837 | 6 | 0.802 | 1 | 5.894 | 14 | 9.094 | 24 | 8.794 | 23 | 1.76%
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Oil and gas (13xx) | 6.843 | 14 | 8.275 | 16 | 7.193 | 15 | 12.911 | 16 | 1.310 | 2 | 21.414 | 33 | 36.532 | 63 | 35.681 | 60 | 6.40%
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Construction (15xx) | 2.000 | 4 | 0.750 | 1 | 0.215 | 2 | 0.585 | 2 | 0 | 0 | 0.800 | 4 | 3.550 | 9 | 3.550 | 9 | 0.24%
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Manufacturing (2xxx, 3xxx) | 36.776 | 61 | 28.933 | 72 | 49.024 | 100 | 43.837 | 98 | 6.490 | 16 | 99.351 | 214 | 165.060 | 347 | 150.620 | 327 | 29.67%
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Transportation (4xxx) | 3.519 | 8 | 2.584 | 9 | 3.817 | 7 | 1.965 | 7 | 1.745 | 4 | 7.527 | 18 | 13.630 | 35 | 10.861 | 31 | 2.25%
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Communications (48xx) | 2.623 | 8 | 8.638 | 23 | 12.699 | 13 | 11.472 | 17 | 5.200 | 6 | 29.371 | 36 | 40.632 | 67 | 39.017 | 62 | 8.77%
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Electric, gas, sanitary services (49xx) | 3.574 | 5 | 3.617 | 5 | 7.930 | 12 | 8.380 | 14 | 0.589 | 3 | 16.899 | 29 | 24.090 | 39 | 20.516 | 34 | 5.05%
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Wholesale (5xxx) | 15.816 | 31 | 12.338 | 33 | 18.625 | 37 | 18.510 | 29 | 9.700 | 11 | 46.834 | 77 | 74.988 | 141 | 70.367 | 130 | 13.99%
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Finance, insurance, real estate (6xxx) | 11.120 | 27 | 12.190 | 34 | 11.835 | 41 | 11.748 | 26 | 3.070 | 11 | 26.653 | 78 | 49.962 | 139 | 46.752 | 129 | 7.96%
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Services (7xxx) | 21.677 | 43 | 16.485 | 47 | 33.734 | 66 | 17.543 | 47 | 7.136 | 21 | 58.413 | 133 | 96.574 | 223 | 92.184 | 210 | 17.45%
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Health services (8xxx) | 6.803 | 15 | 8.460 | 13 | 6.585 | 23 | 7.277 | 20 | 6.800 | 7 | 20.662 | 50 | 35.924 | 78 | 33.291 | 69 | 6.17%
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Total | 111.951 | 221 | 104.469 | 260 | 152.911 | 323 | 139.083 | 283 | 42.842 | 82 | 334.836 | 688 | 551.255 | 1169 | 512.854 | 1088 | 100.00%
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Criteria
• The tables include dollar-denominated deals offered in the United States reported to Prospect News.
• All deals from issuers with $75 million or more total bank debt outstanding (including unused portions of revolvers)
• All loans are leveraged: either the interest rate margin is 150 bps or higher or they are rated speculative-grade by Moody's Investors Service or Standard & Poor's.
• Includes amended and restated loans where the maturity or size is changed but not repricings.
• Offerings are included in the time period in which the bank meeting was held (if available), otherwise the earlier of settlement date or date reported to Prospect News.
• Numeric totals are for the number of deals. Where individual tranches have different features (e.g. interest rate, flex), breakdown is by tranches, otherwise breakdown is by number of deals (e.g. use of proceeds, industry sector).
• DIP facilities are included.
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