Deals A Little 'Frothy', Need to Be 'Picky': Churchill's Schwimmer

The video discusses the market landscape and expectations for 2020, highlighting a potentially stronger start to the year. It covers investor demand, particularly in the CLO market, and the impact of AAA pricing. The discussion also touches on the increased deal flow and market activity anticipated in early 2020, driven by political risks. The video examines deal structures, investor caution, and the role of direct lenders, noting their growing influence and the potential impact on syndicated loans. The overall outlook considers volatility and political risks affecting market dynamics.

What factors contributed to the soft year in terms of issuance and performance in 2019?

How do you expect the leveraged loan market to change in 2020 based on the current trends?

What concerns do sponsors have regarding the second half of 2020, and how are they responding?

In what ways are investors showing discretion in the current market, and what does this mean for deal structures?

What are the implications of direct lenders taking over a greater proportion of the business previously dominated by leveraged lending?