Columns are amount in billions of dollars, count of deals, percentage of total in dollars.
Rate (L+)
| 1/2012 | 2/2012 | 3/2012 | 4/2012 | 5/2012 | 6/2012 | 7/2012 | 8/2012 | 9/2012 | 10/2012 | 11/2012 | 12/2012 | 1/2013 |
|
Below 150 bps | 0 | 0.275 | 0 | 0 | 0 | 0.100 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
|
150 | 0.275 | 0.725 | 2.630 | 1.860 | 1.155 | 3.080 | 0.350 | 3.460 | 1.425 | 0.150 | 0.500 | 1.685 | 2.410 |
|
175 | 2.240 | 1.375 | 3.108 | 2.300 | 2.405 | 1.960 | 2.230 | 2.485 | 1.175 | 3.620 | 1.470 | 2.060 | 0.050 |
|
200 | 1.145 | 0.875 | 6.280 | 5.900 | 1.350 | 0 | 0.650 | 0.080 | 1.760 | 2.330 | 5.250 | 4.150 | 0.960 |
|
225 | 3.112 | 5.425 | 3.090 | 2.445 | 2.875 | 0.515 | 0.785 | 0.180 | 1.680 | 0 | 0.580 | 2.000 | 0.500 |
|
250 | 1.640 | 2.000 | 0.985 | 0.635 | 0.973 | 1.620 | 2.680 | 4.175 | 5.100 | 0.225 | 1.995 | 1.145 | 1.680 |
|
275 | 1.530 | 0.550 | 1.455 | 1.345 | 0.425 | 0.150 | 1.225 | 0.230 | 5.363 | 2.639 | 2.016 | 0.111 | 8.757 |
|
300 | 2.520 | 8.590 | 4.040 | 0.250 | 0.075 | 0.650 | 2.885 | 2.150 | 3.751 | 0.985 | 4.957 | 3.613 | 14.703 |
|
325 | 1.700 | 2.192 | 2.377 | 0.175 | 0.950 | 0.630 | 1.395 | 2.165 | 9.333 | 3.486 | 0.633 | 4.795 | 12.178 |
|
350 | 1.970 | 0 | 1.344 | 1.275 | 0 | 0.300 | 6.875 | 1.754 | 5.360 | 3.612 | 1.346 | 2.395 | 6.960 |
|
375 | 0.295 | 2.009 | 2.525 | 2.995 | 3.250 | 0.756 | 1.165 | 0.675 | 10.192 | 2.883 | 4.202 | 1.632 | 6.235 |
|
400 | 0.660 | 4.598 | 4.470 | 1.125 | 1.410 | 0.416 | 0.680 | 0.745 | 7.033 | 4.305 | 4.684 | 1.575 | 3.122 |
|
425 | 1.150 | 1.123 | 0.600 | 4.275 | 3.869 | 1.794 | 2.065 | 0 | 1.595 | 12.220 | 1.890 | 0 | 1.028 |
|
450 | 0.817 | 0.610 | 1.420 | 0.060 | 2.340 | 0 | 3.330 | 2.942 | 6.995 | 3.328 | 3.394 | 0.940 | 2.880 |
|
475 | 0.515 | 1.855 | 1.140 | 1.510 | 0.400 | 0.700 | 0.418 | 0.025 | 3.015 | 2.180 | 1.278 | 0.640 | 0.743 |
|
500 bps and upward | 6.509 | 5.681 | 12.486 | 10.139 | 14.783 | 8.812 | 8.669 | 6.160 | 9.899 | 14.015 | 11.328 | 4.072 | 8.748 |
|
Fixed rate | 0.375 | 0.300 | 0.308 | 0.203 | 0.790 | 0 | 0.080 | 0.429 | 0.250 | 0 | 0.725 | 0.065 | 1.200 |
|
NA | 13.599 | 16.104 | 9.813 | 13.806 | 18.479 | 12.312 | 14.368 | 15.675 | 22.838 | 22.383 | 13.679 | 32.278 | 25.357 |
|
Other | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.130 | 0 | 0 |
|
Total | 40.052 | 54.287 | 58.072 | 50.297 | 55.530 | 33.795 | 49.850 | 43.330 | 96.764 | 78.361 | 60.058 | 63.156 | 97.511 |
|
|
|
| Q1/2012 | Count | Q2/2012 | Count | Q3/2012 | Count | Q4/2012 | Count | Q1/2013 | Count | YTD | Count | Total | Count | Last 12 months | Count | YTD Share
|
Below 150 bps | 0.275 | 1 | 0.100 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.375 | 2 | 0.375 | 2 | 0.00%
|
150 | 3.630 | 10 | 6.095 | 16 | 5.235 | 10 | 2.335 | 9 | 2.410 | 4 | 2.410 | 4 | 19.705 | 49 | 19.430 | 44 | 2.47%
|
175 | 6.723 | 17 | 6.665 | 19 | 5.890 | 19 | 7.150 | 23 | 0.050 | 1 | 0.050 | 1 | 26.478 | 79 | 24.238 | 58 | 0.05%
|
200 | 8.300 | 25 | 7.250 | 13 | 2.490 | 11 | 11.730 | 30 | 0.960 | 2 | 0.960 | 2 | 30.730 | 81 | 29.585 | 55 | 0.98%
|
225 | 11.627 | 28 | 5.835 | 14 | 2.645 | 10 | 2.580 | 12 | 0.500 | 1 | 0.500 | 1 | 23.187 | 65 | 20.075 | 36 | 0.51%
|
250 | 4.625 | 8 | 3.228 | 17 | 11.955 | 15 | 3.365 | 16 | 1.680 | 2 | 1.680 | 2 | 24.853 | 58 | 23.213 | 36 | 1.72%
|
275 | 3.535 | 17 | 1.920 | 7 | 6.818 | 13 | 4.766 | 13 | 8.757 | 11 | 8.757 | 8 | 25.796 | 61 | 24.266 | 34 | 8.98%
|
300 | 15.150 | 30 | 0.975 | 6 | 8.786 | 21 | 9.556 | 21 | 14.703 | 13 | 14.703 | 12 | 49.170 | 91 | 46.650 | 53 | 15.08%
|
325 | 6.269 | 15 | 1.755 | 8 | 12.893 | 18 | 8.914 | 16 | 12.178 | 16 | 12.178 | 13 | 42.010 | 73 | 40.310 | 43 | 12.49%
|
350 | 3.314 | 7 | 1.575 | 3 | 13.989 | 21 | 7.353 | 18 | 6.960 | 6 | 6.960 | 4 | 33.191 | 55 | 31.221 | 37 | 7.14%
|
375 | 4.829 | 12 | 7.001 | 15 | 12.032 | 26 | 8.716 | 24 | 6.235 | 7 | 6.235 | 6 | 38.814 | 84 | 38.519 | 48 | 6.39%
|
400 | 9.727 | 23 | 2.951 | 14 | 8.458 | 17 | 10.564 | 22 | 3.122 | 7 | 3.122 | 4 | 34.822 | 83 | 34.162 | 49 | 3.20%
|
425 | 2.873 | 6 | 9.938 | 21 | 3.660 | 10 | 14.111 | 16 | 1.028 | 4 | 1.028 | 3 | 31.609 | 57 | 30.459 | 27 | 1.05%
|
450 | 2.847 | 11 | 2.400 | 6 | 13.267 | 31 | 7.662 | 25 | 2.880 | 10 | 2.880 | 6 | 29.056 | 83 | 28.239 | 47 | 2.95%
|
475 | 3.510 | 14 | 2.610 | 6 | 3.458 | 11 | 4.098 | 18 | 0.743 | 3 | 0.743 | 2 | 14.419 | 52 | 13.905 | 26 | 0.76%
|
500 bps and upward | 24.676 | 106 | 33.734 | 114 | 24.727 | 108 | 29.415 | 136 | 8.748 | 16 | 8.748 | 5 | 121.301 | 480 | 114.792 | 177 | 8.97%
|
Fixed rate | 0.983 | 5 | 0.993 | 3 | 0.759 | 6 | 0.790 | 5 | 1.200 | 1 | 1.200 | 1 | 4.725 | 20 | 4.350 | 12 | 1.23%
|
NA | 39.517 | 148 | 44.597 | 151 | 52.881 | 194 | 68.341 | 235 | 25.357 | 74 | 25.357 | 55 | 230.692 | 802 | 217.093 | 599 | 26.00%
|
Other | 0 | 0 | 0 | 0 | 0 | 0 | 0.130 | 1 | 0 | 0 | 0 | 0 | 0.130 | 1 | 0.130 | 1 | 0.00%
|
Total | 152.411 | 323 | 139.623 | 284 | 189.943 | 341 | 201.575 | 395 | 97.511 | 129 | 97.511 | 129 | 781.064 | 1472 | 741.012 | 1382 | 100.00%
|
|
|
Upsized? |
|
|
|
| 1/2012 | 2/2012 | 3/2012 | 4/2012 | 5/2012 | 6/2012 | 7/2012 | 8/2012 | 9/2012 | 10/2012 | 11/2012 | 12/2012 | 1/2013 |
|
Yes | 4.872 | 1.540 | 3.980 | 6.190 | 4.545 | 1.752 | 3.370 | 6.170 | 19.517 | 16.095 | 4.840 | 4.630 | 5.519 |
|
No | 33.585 | 52.497 | 53.257 | 40.711 | 48.940 | 32.043 | 43.010 | 36.825 | 73.487 | 58.681 | 51.762 | 56.276 | 91.102 |
|
Downsized | 1.595 | 0.250 | 0.835 | 3.397 | 2.045 | 0 | 3.470 | 0.335 | 3.760 | 3.585 | 3.457 | 2.250 | 0.890 |
|
Total | 40.052 | 54.287 | 58.072 | 50.297 | 55.530 | 33.795 | 49.850 | 43.330 | 96.764 | 78.361 | 60.058 | 63.156 | 97.511 |
|
|
|
| Q1/2012 | Count | Q2/2012 | Count | Q3/2012 | Count | Q4/2012 | Count | Q1/2013 | Count | YTD | Count | Total | Count | Last 12 months | Count | YTD Share
|
Yes | 10.393 | 24 | 12.488 | 27 | 29.057 | 44 | 25.564 | 37 | 5.519 | 10 | 5.519 | 6 | 83.020 | 142 | 78.147 | 63 | 5.66%
|
No | 139.339 | 450 | 121.694 | 390 | 153.321 | 478 | 166.719 | 576 | 91.102 | 166 | 91.102 | 123 | 672.175 | 2060 | 638.591 | 1293 | 93.43%
|
Downsized | 2.680 | 9 | 5.441 | 17 | 7.565 | 19 | 9.292 | 27 | 0.890 | 2 | 0.890 | 1 | 25.869 | 74 | 24.273 | 27 | 0.91%
|
Total | 152.411 | 323 | 139.623 | 284 | 189.943 | 341 | 201.575 | 395 | 97.511 | 129 | 97.511 | 129 | 781.064 | 1472 | 741.012 | 1382 | 100.00%
|
|
|
Flex? |
|
|
|
| 1/2012 | 2/2012 | 3/2012 | 4/2012 | 5/2012 | 6/2012 | 7/2012 | 8/2012 | 9/2012 | 10/2012 | 11/2012 | 12/2012 | 1/2013 |
|
Down | 6.849 | 5.895 | 2.649 | 1.480 | 0.595 | 2.155 | 4.700 | 1.815 | 14.589 | 9.115 | 2.590 | 3.423 | 9.632 |
|
No | 33.203 | 48.392 | 53.198 | 41.828 | 50.235 | 30.973 | 43.217 | 40.740 | 81.425 | 64.051 | 54.238 | 59.146 | 87.880 |
|
Up | 0 | 0 | 2.225 | 6.989 | 4.700 | 0.667 | 1.933 | 0.775 | 0.750 | 5.195 | 3.230 | 0.587 | 0 |
|
Total | 40.052 | 54.287 | 58.072 | 50.297 | 55.530 | 33.795 | 49.850 | 43.330 | 96.764 | 78.361 | 60.058 | 63.156 | 97.511 |
|
|
|
| Q1/2012 | Count | Q2/2012 | Count | Q3/2012 | Count | Q4/2012 | Count | Q1/2013 | Count | YTD | Count | Total | Count | Last 12 months | Count | YTD Share
|
Down | 15.393 | 33 | 4.230 | 15 | 21.104 | 39 | 15.128 | 23 | 9.632 | 14 | 9.632 | 9 | 65.487 | 124 | 58.638 | 45 | 9.88%
|
No | 134.793 | 448 | 123.036 | 389 | 165.381 | 487 | 177.435 | 590 | 87.880 | 164 | 87.880 | 120 | 688.525 | 2078 | 655.322 | 1313 | 90.12%
|
Up | 2.225 | 2 | 12.357 | 30 | 3.458 | 15 | 9.012 | 27 | 0 | 0 | 0 | 0 | 27.052 | 74 | 27.052 | 24 | 0.00%
|
Total | 152.411 | 323 | 139.623 | 284 | 189.943 | 341 | 201.575 | 395 | 97.511 | 129 | 97.511 | 129 | 781.064 | 1472 | 741.012 | 1382 | 100.00%
|
|
|
Type |
|
|
|
| 1/2012 | 2/2012 | 3/2012 | 4/2012 | 5/2012 | 6/2012 | 7/2012 | 8/2012 | 9/2012 | 10/2012 | 11/2012 | 12/2012 | 1/2013 |
|
Revolver | 15.310 | 20.567 | 22.269 | 19.120 | 24.170 | 14.938 | 17.200 | 20.967 | 20.929 | 22.554 | 16.537 | 29.560 | 14.398 |
|
TLA | 3.372 | 3.975 | 2.890 | 4.275 | 2.325 | 0.700 | 7.445 | 1.397 | 4.859 | 3.159 | 2.640 | 2.550 | 1.099 |
|
Term | 10.409 | 12.786 | 9.205 | 9.614 | 16.530 | 12.047 | 13.675 | 13.745 | 40.364 | 32.153 | 22.237 | 17.706 | 52.836 |
|
Institutional | 9.755 | 15.114 | 20.915 | 15.930 | 10.005 | 4.715 | 11.020 | 6.881 | 28.392 | 14.678 | 15.096 | 11.135 | 26.953 |
|
Second/third/junior lien | 0.495 | 0.730 | 2.330 | 0.658 | 1.920 | 0.530 | 0.385 | 0.300 | 2.175 | 4.160 | 3.140 | 0.775 | 1.525 |
|
Delayed draw | 0.710 | 1.115 | 0.462 | 0.700 | 0.580 | 0.865 | 0.125 | 0.040 | 0.045 | 1.657 | 0.155 | 1.400 | 0.700 |
|
LoC | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.253 | 0.030 | 0 |
|
Total | 40.052 | 54.287 | 58.072 | 50.297 | 55.530 | 33.795 | 49.850 | 43.330 | 96.764 | 78.361 | 60.058 | 63.156 | 97.511 |
|
|
|
| Q1/2012 | Count | Q2/2012 | Count | Q3/2012 | Count | Q4/2012 | Count | Q1/2013 | Count | YTD | Count | Total | Count | Last 12 months | Count | YTD Share
|
Revolver | 58.146 | 222 | 58.228 | 224 | 59.095 | 236 | 68.651 | 284 | 14.398 | 57 | 14.398 | 54 | 258.518 | 1023 | 243.207 | 870 | 14.77%
|
TLA | 10.238 | 23 | 7.300 | 20 | 13.701 | 25 | 8.350 | 18 | 1.099 | 2 | 1.099 | 2 | 40.688 | 88 | 37.316 | 22 | 1.13%
|
Term | 32.401 | 121 | 38.192 | 100 | 67.784 | 181 | 72.096 | 189 | 52.836 | 68 | 52.836 | 45 | 263.310 | 659 | 252.900 | 312 | 54.18%
|
Institutional | 45.785 | 93 | 30.649 | 58 | 46.293 | 77 | 40.908 | 86 | 26.953 | 41 | 26.953 | 27 | 190.589 | 355 | 180.834 | 160 | 27.64%
|
Second/third/junior lien | 3.555 | 15 | 3.108 | 21 | 2.860 | 17 | 8.075 | 45 | 1.525 | 9 | 1.525 | 2 | 19.123 | 107 | 18.628 | 8 | 1.56%
|
Delayed draw | 2.287 | 9 | 2.145 | 11 | 0.210 | 5 | 3.212 | 11 | 0.700 | 1 | 0.700 | 1 | 8.554 | 37 | 7.844 | 10 | 0.72%
|
LoC | 0 | 0 | 0 | 0 | 0 | 0 | 0.283 | 7 | 0 | 0 | 0 | 0 | 0.283 | 7 | 0.283 | 3 | 0.00%
|
Total | 152.411 | 323 | 139.623 | 284 | 189.943 | 341 | 201.575 | 395 | 97.511 | 129 | 97.511 | 129 | 781.064 | 1472 | 741.012 | 1382 | 100.00%
|
|
|
Moody's Rating |
|
|
|
| 1/2012 | 2/2012 | 3/2012 | 4/2012 | 5/2012 | 6/2012 | 7/2012 | 8/2012 | 9/2012 | 10/2012 | 11/2012 | 12/2012 | 1/2013 |
|
Baa2 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.000 | 0 | 0 | 0 | 0 | 0 |
|
Baa3 | 0.350 | 0 | 0 | 0 | 0 | 0.400 | 0.900 | 0.750 | 0 | 1.300 | 0 | 1.200 | 0 |
|
Ba1 | 1.250 | 1.450 | 6.375 | 1.960 | 1.087 | 0 | 0 | 0 | 7.300 | 8.955 | 4.665 | 1.155 | 1.025 |
|
Ba2 | 2.422 | 10.680 | 3.275 | 0.235 | 3.090 | 3.245 | 5.015 | 5.365 | 0.900 | 3.546 | 0.703 | 6.183 | 0.700 |
|
Ba3 | 5.710 | 4.817 | 9.445 | 3.042 | 5.980 | 1.850 | 5.135 | 6.615 | 6.854 | 5.405 | 9.458 | 1.390 | 0.930 |
|
B1 | 4.304 | 6.254 | 7.608 | 11.735 | 1.160 | 6.912 | 8.305 | 1.215 | 14.802 | 7.377 | 13.045 | 5.455 | 16.620 |
|
B2 | 0.845 | 2.330 | 2.770 | 0.840 | 2.675 | 0.435 | 1.325 | 0 | 7.950 | 10.022 | 2.880 | 1.000 | 2.755 |
|
B3 | 1.583 | 0.450 | 0.475 | 0 | 1.310 | 0.375 | 0.200 | 0 | 1.987 | 1.080 | 1.110 | 0 | 0 |
|
Caa1 | 0.320 | 0.615 | 0.985 | 0.387 | 0.965 | 0.780 | 0.365 | 0 | 1.265 | 2.025 | 1.735 | 0.185 | 1.065 |
|
Caa2 | 0 | 0 | 0 | 0 | 0.115 | 0 | 0 | 0 | 0.745 | 0.735 | 0.490 | 0.255 | 0 |
|
NR | 23.268 | 27.691 | 27.139 | 32.098 | 39.147 | 19.798 | 28.605 | 28.385 | 54.961 | 37.916 | 25.973 | 46.333 | 74.416 |
|
Total | 40.052 | 54.287 | 58.072 | 50.297 | 55.530 | 33.795 | 49.850 | 43.330 | 96.764 | 78.361 | 60.058 | 63.156 | 97.511 |
|
|
|
| Q1/2012 | Count | Q2/2012 | Count | Q3/2012 | Count | Q4/2012 | Count | Q1/2013 | Count | YTD | Count | Total | Count | Last 12 months | Count | YTD Share
|
Baa2 | 0 | 0 | 0 | 0 | 1.000 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 1.000 | 1 | 1.000 | 1 | 0.00%
|
Baa3 | 0.350 | 2 | 0.400 | 1 | 1.650 | 3 | 2.500 | 3 | 0 | 0 | 0 | 0 | 4.900 | 9 | 4.550 | 5 | 0.00%
|
Ba1 | 9.075 | 18 | 3.047 | 7 | 7.300 | 5 | 14.774 | 20 | 1.025 | 3 | 1.025 | 2 | 35.221 | 53 | 33.971 | 27 | 1.05%
|
Ba2 | 16.377 | 31 | 6.570 | 17 | 11.280 | 22 | 10.432 | 20 | 0.700 | 2 | 0.700 | 1 | 45.359 | 92 | 42.937 | 51 | 0.72%
|
Ba3 | 19.973 | 34 | 10.873 | 39 | 18.604 | 46 | 16.253 | 37 | 0.930 | 5 | 0.930 | 3 | 66.632 | 161 | 60.922 | 81 | 0.95%
|
B1 | 18.166 | 64 | 19.808 | 53 | 24.322 | 67 | 25.877 | 75 | 16.620 | 26 | 16.620 | 15 | 104.792 | 285 | 100.488 | 153 | 17.04%
|
B2 | 5.945 | 21 | 3.950 | 15 | 9.275 | 32 | 13.902 | 60 | 2.755 | 9 | 2.755 | 5 | 35.827 | 137 | 34.982 | 72 | 2.83%
|
B3 | 2.507 | 13 | 1.685 | 5 | 2.187 | 5 | 2.190 | 8 | 0 | 0 | 0 | 0 | 8.570 | 31 | 6.988 | 12 | 0.00%
|
Caa1 | 1.920 | 10 | 2.132 | 15 | 1.630 | 9 | 3.945 | 18 | 1.065 | 4 | 1.065 | 2 | 10.692 | 56 | 10.372 | 7 | 1.09%
|
Caa2 | 0 | 0 | 0.115 | 1 | 0.745 | 5 | 1.480 | 10 | 0 | 0 | 0 | 0 | 2.340 | 16 | 2.340 | 1 | 0.00%
|
NR | 78.098 | 290 | 91.043 | 281 | 111.951 | 346 | 110.222 | 389 | 74.416 | 129 | 74.416 | 102 | 465.730 | 1435 | 442.461 | 974 | 76.32%
|
Total | 152.411 | 323 | 139.623 | 284 | 189.943 | 341 | 201.575 | 395 | 97.511 | 129 | 97.511 | 129 | 781.064 | 1472 | 741.012 | 1382 | 100.00%
|
|
|
Use of Proceeds |
|
|
|
| 1/2012 | 2/2012 | 3/2012 | 4/2012 | 5/2012 | 6/2012 | 7/2012 | 8/2012 | 9/2012 | 10/2012 | 11/2012 | 12/2012 | 1/2013 |
|
Acquisition | 1.170 | 1.570 | 3.829 | 9.078 | 6.462 | 8.535 | 6.490 | 7.973 | 12.290 | 4.965 | 12.583 | 11.807 | 7.361 |
|
Capex | 0 | 0 | 0 | 0 | 0 | 0 | 0.330 | 0 | 0 | 0.185 | 0.075 | 0.400 | 0 |
|
Dividend/recap | 0.430 | 5.287 | 5.060 | 4.381 | 1.281 | 0.800 | 5.309 | 2.580 | 7.070 | 9.237 | 4.418 | 2.170 | 3.285 |
|
Exit financing | 0.904 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2.250 | 0 | 0 |
|
GCP | 5.710 | 3.427 | 2.998 | 1.806 | 4.555 | 2.920 | 4.185 | 7.205 | 2.297 | 1.646 | 4.000 | 5.095 | 0.400 |
|
LBO | 3.973 | 0.840 | 0.595 | 3.640 | 5.280 | 3.752 | 5.218 | 0.900 | 7.105 | 8.157 | 6.620 | 4.457 | 8.098 |
|
Refinance | 15.440 | 20.515 | 34.732 | 19.748 | 16.169 | 4.960 | 14.405 | 7.098 | 40.444 | 34.428 | 19.597 | 14.994 | 40.218 |
|
Repay bank debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.275 |
|
Multiple/Other/NA | 12.425 | 22.648 | 10.858 | 11.643 | 21.782 | 12.828 | 13.912 | 17.574 | 27.558 | 19.743 | 10.515 | 24.233 | 36.875 |
|
Total | 40.052 | 54.287 | 58.072 | 50.297 | 55.530 | 33.795 | 49.850 | 43.330 | 96.764 | 78.361 | 60.058 | 63.156 | 97.511 |
|
|
|
| Q1/2012 | Count | Q2/2012 | Count | Q3/2012 | Count | Q4/2012 | Count | Q1/2013 | Count | YTD | Count | Total | Count | Last 12 months | Count | YTD Share
|
Acquisition | 6.569 | 25 | 24.075 | 32 | 26.753 | 31 | 29.355 | 39 | 7.361 | 12 | 7.361 | 12 | 94.112 | 138 | 92.942 | 132 | 7.55%
|
Capex | 0 | 0 | 0 | 0 | 0.330 | 1 | 0.660 | 3 | 0 | 0 | 0 | 0 | 0.990 | 4 | 0.990 | 4 | 0.00%
|
Dividend/recap | 10.777 | 27 | 6.463 | 15 | 14.959 | 25 | 15.825 | 46 | 3.285 | 6 | 3.285 | 6 | 51.308 | 119 | 50.878 | 118 | 3.37%
|
Exit financing | 0.904 | 1 | 0 | 0 | 0 | 0 | 2.250 | 2 | 0 | 0 | 0 | 0 | 3.155 | 3 | 2.250 | 2 | 0.00%
|
GCP | 12.135 | 32 | 9.281 | 22 | 13.687 | 31 | 10.741 | 33 | 0.400 | 2 | 0.400 | 2 | 46.245 | 120 | 40.535 | 108 | 0.41%
|
LBO | 5.408 | 20 | 12.672 | 23 | 13.223 | 25 | 19.234 | 33 | 8.098 | 10 | 8.098 | 10 | 58.635 | 111 | 54.662 | 97 | 8.30%
|
Refinance | 70.687 | 108 | 40.878 | 72 | 61.948 | 97 | 69.019 | 106 | 40.218 | 48 | 40.218 | 48 | 282.750 | 431 | 267.311 | 408 | 41.25%
|
Repay bank debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.275 | 5 | 1.275 | 5 | 1.275 | 5 | 1.275 | 5 | 1.31%
|
Multiple/Other/NA | 45.931 | 110 | 46.253 | 121 | 59.044 | 131 | 54.491 | 133 | 36.875 | 46 | 36.875 | 46 | 242.594 | 541 | 230.169 | 508 | 37.82%
|
Total | 152.411 | 323 | 139.623 | 284 | 189.943 | 341 | 201.575 | 395 | 97.511 | 129 | 97.511 | 129 | 781.064 | 1472 | 741.012 | 1382 | 100.00%
|
|
|
Industry Sector (by SIC code) |
|
|
|
| 1/2012 | 2/2012 | 3/2012 | 4/2012 | 5/2012 | 6/2012 | 7/2012 | 8/2012 | 9/2012 | 10/2012 | 11/2012 | 12/2012 | 1/2013 |
|
Agriculture (0xxx) | 0 | 0 | 0 | 0 | 0.539 | 0.480 | 0 | 0 | 0 | 0 | 0 | 0 | 0.200 |
|
Mining (1xxx) | 0.525 | 0.170 | 0.560 | 0.200 | 3.637 | 0 | 0.802 | 0.260 | 0.170 | 1.000 | 0.525 | 0.350 | 0 |
|
Oil and gas (13xx) | 2.100 | 3.905 | 1.188 | 4.575 | 6.126 | 2.210 | 2.940 | 2.118 | 10.072 | 4.060 | 5.215 | 5.840 | 2.358 |
|
Construction (15xx) | 0.140 | 0 | 0.075 | 0 | 0.410 | 0.175 | 0 | 1.160 | 1.050 | 1.690 | 1.045 | 0 | 0 |
|
Manufacturing (2xxx, 3xxx) | 17.297 | 16.390 | 15.163 | 13.716 | 19.005 | 10.716 | 6.561 | 13.994 | 22.877 | 22.938 | 22.410 | 22.355 | 29.297 |
|
Transportation (4xxx) | 0.740 | 3.077 | 0 | 0.175 | 0.150 | 1.390 | 2.035 | 3.664 | 2.211 | 3.000 | 0.205 | 0.598 | 0.740 |
|
Communications (48xx) | 3.850 | 1.080 | 7.094 | 4.791 | 2.356 | 4.325 | 5.275 | 2.072 | 11.234 | 2.212 | 2.167 | 8.073 | 11.715 |
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Electric, gas, sanitary services (49xx) | 2.145 | 3.085 | 2.700 | 1.840 | 4.415 | 2.675 | 4.189 | 1.400 | 6.115 | 6.874 | 1.598 | 1.500 | 2.130 |
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Wholesale (5xxx) | 3.289 | 7.260 | 8.075 | 11.425 | 2.780 | 4.455 | 9.864 | 2.487 | 13.268 | 8.879 | 8.034 | 3.410 | 18.751 |
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Finance, insurance, real estate (6xxx) | 3.820 | 3.740 | 4.425 | 2.925 | 7.193 | 2.115 | 3.550 | 3.204 | 11.692 | 5.522 | 4.715 | 3.813 | 10.368 |
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Services (7xxx) | 5.869 | 13.234 | 14.630 | 9.425 | 5.913 | 2.205 | 9.709 | 8.403 | 15.501 | 21.284 | 9.099 | 16.367 | 15.639 |
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Health services (8xxx) | 0.277 | 2.347 | 4.161 | 1.226 | 3.005 | 3.050 | 4.925 | 4.567 | 2.573 | 0.902 | 5.045 | 0.850 | 6.313 |
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Total | 40.052 | 54.287 | 58.072 | 50.297 | 55.530 | 33.795 | 49.850 | 43.330 | 96.764 | 78.361 | 60.058 | 63.156 | 97.511 |
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| Q1/2012 | Count | Q2/2012 | Count | Q3/2012 | Count | Q4/2012 | Count | Q1/2013 | Count | YTD | Count | Total | Count | Last 12 months | Count | YTD Share
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Agriculture (0xxx) | 0 | 0 | 1.019 | 2 | 0 | 0 | 0 | 0 | 0.200 | 1 | 0.200 | 1 | 1.219 | 3 | 1.219 | 3 | 0.21%
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Mining (1xxx) | 1.255 | 7 | 3.837 | 6 | 1.232 | 3 | 1.875 | 4 | 0 | 0 | 0 | 0 | 8.199 | 20 | 7.674 | 17 | 0.00%
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Oil and gas (13xx) | 7.193 | 15 | 12.911 | 16 | 15.130 | 14 | 15.115 | 29 | 2.358 | 5 | 2.358 | 5 | 52.707 | 79 | 50.607 | 74 | 2.42%
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Construction (15xx) | 0.215 | 2 | 0.585 | 2 | 2.210 | 7 | 2.735 | 5 | 0 | 0 | 0 | 0 | 5.745 | 16 | 5.605 | 15 | 0.00%
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Manufacturing (2xxx, 3xxx) | 48.849 | 100 | 43.437 | 97 | 43.433 | 80 | 67.703 | 108 | 29.297 | 39 | 29.297 | 39 | 232.718 | 424 | 215.422 | 393 | 30.04%
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Transportation (4xxx) | 3.817 | 7 | 1.715 | 6 | 7.911 | 16 | 3.803 | 9 | 0.740 | 4 | 0.740 | 4 | 17.985 | 42 | 17.245 | 40 | 0.76%
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Communications (48xx) | 12.024 | 13 | 11.472 | 17 | 18.581 | 25 | 12.452 | 19 | 11.715 | 11 | 11.715 | 11 | 66.244 | 85 | 62.394 | 83 | 12.01%
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Electric, gas, sanitary services (49xx) | 7.930 | 12 | 8.930 | 15 | 11.704 | 11 | 9.972 | 17 | 2.130 | 3 | 2.130 | 3 | 40.666 | 58 | 38.521 | 54 | 2.18%
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Wholesale (5xxx) | 18.625 | 37 | 18.660 | 30 | 25.619 | 46 | 20.324 | 52 | 18.751 | 19 | 18.751 | 19 | 101.978 | 184 | 98.688 | 175 | 19.23%
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Finance, insurance, real estate (6xxx) | 11.985 | 41 | 12.233 | 27 | 18.446 | 49 | 14.050 | 40 | 10.368 | 12 | 10.368 | 12 | 67.082 | 169 | 63.262 | 154 | 10.63%
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Services (7xxx) | 33.734 | 66 | 17.543 | 47 | 33.613 | 71 | 46.749 | 94 | 15.639 | 27 | 15.639 | 27 | 147.278 | 304 | 141.409 | 288 | 16.04%
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Health services (8xxx) | 6.785 | 23 | 7.282 | 20 | 12.065 | 19 | 6.797 | 18 | 6.313 | 8 | 6.313 | 8 | 39.242 | 88 | 38.965 | 86 | 6.47%
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Total | 152.411 | 323 | 139.623 | 284 | 189.943 | 341 | 201.575 | 395 | 97.511 | 129 | 97.511 | 129 | 781.064 | 1472 | 741.012 | 1382 | 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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