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Poll Archive

Covenant-lite bond deals are…

not OK. It’s a bad sign to see them again.	0%
OK if the company is not too highly levered.	0%

 

Companies issuing junk bonds and leveraged loans to fund dividend deals are…

digging a debt hole that could serve as their grave.	0%
showing confidence in the future of the economy.	0%

 

Is the recent drop in the stock market a sign that the second dip of the double-dip recession is upon us?

Yes, hold onto your seat belts	0%
No, we’re on a long, rocky road to recovery	0%

 

Will the current new issue activity in the high yield bond and leveraged loan markets continue at this pace through Labor Day?

Yes, the market is catching up after a slowdown	0%
No, investors are getting ready to go on vacation	0%

 

Will the financial reform bill signed into law by President Obama decrease the importance of rating agencies in the asset-backed bond market?

Yes	0%
No	0%
Maybe	0%

 

Are commercial banks here to stay in the leveraged loan market?

Yes, get used to them	0%
No, they’re fair-weather players who will flee when things get rough	0%

 

If signed into law in its current form, how will the “skin in the game” provision of the financial reform bill under consideration by Congress impact the CLO and leveraged loan market?

It will spread the risk, ensuring a safer market	0%
At worst it will create some confusion	0%
At best it will create total confusion	0%
It’s a complete disaster	0%

 

What was the most important development for the high yield bond and leveraged loan markets in the first half of 2010?

European debt crisis	0%
Fed's decision to keep interest rates low	0%
The return of LBO deals	0%
Record junk bond issuance in March and April	0%

 

What is the best way for issuers to make leveraged loans more attractive to buyers?

Higher coupons	0%
Larger original issue discounts	0%
Tighter covenants	0%
Lower Libor floors	0%
Lower leveraged multiples	0%

 

When will the high yield bond market regain its previous vigor?

Before the end of June	0%
Sometime in the third quarter	0%
Not until Q4	0%
Not until 2011	0%

 

Banks are using bridge loans to wait out the slow bond market. What does this mean?

Good news – it shows the will to get deals done and faith that the primary HY market will return.	0%
Bad news – banks will be encouraged to make more bridge loans, eventually building bridges to nowhere.	0%

 

Which is the biggest threat to the U.S. debt markets?

The European debt crisis	0%
The potential financial regulatory changes	0%
Roller coaster equity markets	0%

 

Are deals becoming too issuer-friendly?

Yes	0%
No	0%

 

Have covenant packages on high yield bonds and leveraged loans become too weak?

Yes	0%
No	0%

 

Is volatility as much of a consideration as pricing and spreads when buying credits on the secondary market?

Yes, absolutely.	0%
No, not so much.	0%