A euro-denominated leveraged loan issued in support of a leveraged buyout by a private equity firm with a 5-7 years’ maturity paid a 3.87% yield on March 31st (slightly up own from 3.83% one week before but well down from 5.0% one year ago) and a 1.04% year-to-date total return (from 5.88% in the whole 2016). These are the figures that emerge reading the Ver Capital Leveraged Loan Index, an index that Ver Capital sgr has specifically built for BeBeez and that will be updated weekly.
The Ver Capital Leveraged Loan Index has 47 member loans (all senior secured performing loans with a B+ avarage rating) well diversified among a series of sectors as showed in the information memorandum.
The whole Lbo Index portfolio recorded a -0.17% total return in the week. The best performer loan on a weekly total return basis was the one relating to Jost (+0.54%), a leading global producer of systems, modules and components for connecting trucks and trailers controlled by Cinven since 2008 and close to listing on the German Stock Exchange.
The wrost weekly performance was instead the one relating to Defence Electronics (Hensoldt) (-1.08%), the defence electronic business spin-off from Airbus bought out by Kkr last February, with Airbus still owning a 25.1% stake.
