Middle Market Leverage Finance – Current Market Conditions Q1 2020

Capstone Headwaters’ Debt Advisory Services Team has published its Q1 Middle Market Leverage Finance report, which is available for download below.  Following $3.1 billion of volume between January and February, middle market (MM) lending activity came to a screeching halt in March as COVID-19 shuttered businesses, forced millions of Americans into the unemployment line, and tipped the U.S. economy into a recession.  Private credit funds, BDCs, and commercial banks, alike, shifted their focus to shoring up their existing portfolio and ensuring ample liquidity for existing accounts, rather than originating new loans.

Our report includes insight and commentary on:

  • Interest Rate Spreads
  • Leverage Multiples
  • COVID-19 vs. the Great Recession
  • COVID-19 Adjustments to EBIDTA
  • The Federal Reserve’s Main Street Lending Program

Contact Managing Director Kent Brown for more information on the report, the Main Street Lending Program, or Capstone’s range of advisory services.

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