New York – June 5, 2017 – With the time intensive nature of spreading covenants and the increasing demand for deal term analytics, Street Diligence, a leading data analytics platform, today announced the launch of its Bank Loan and High Yield Screener, designed to provide comprehensive analysis and instant comparability of covenant data.
The platform, the first and only credit-focused analytics platform built for buy- and sell-side investment professionals, is designed to provide detailed analysis of new and existing credit securities across a wide spectrum of debt structures, including revolvers, first and second lien debt, and senior and subordinated bonds. Users benefit from access to deal terms during negotiations and streamlined portfolio management and analysis.
The platform breaks down key covenant terms and conditions in bank loans and high yield bonds, allowing hedge funds, diversified asset managers, research analysts and investment bankers to digest them quickly, identifying benchmarks and potential trends or opportunities within the high yield and distressed markets.
“Investors need quick access to this type of data to negotiate better deals and mitigate risks. The critical question is whether the terms are market or off-market. We’ve worked very closely with a number of hedge funds and investment banks to build this comprehensive screener that takes the guess work out of deal term standards,” explained Stephen Hazelton, Founder & CEO of Street Diligence.
As well as providing a composite view of the key terms, prepayment provisions, financial covenants, negative covenants and amended provisions, users can also access detailed analytics on each. All amendments are accessible in one master document with redline tracking of all changes, which is fully verifiable and auditable to the source documents.
“The challenge is that risk is a real-time problem during an active deal negotiation. Yet many investors do not have real-time access to benchmarks, nor the manpower to do the necessary due diligence at the speed that’s required in this environment. Spreading covenants, which typically takes credit analysts many hours to prepare manually, can now be done in a few clicks on our platform,” continued Hazelton.
About Street Diligence
Street Diligence’s bank loan and high yield bond platform makes negotiating and analyzing credit agreements, indentures and their amendments much more effective. Coverage focuses on revolvers, term loans and corporate bonds in the U.S., and its system breaks down key covenant terms and conditions, allowing the investment professional to digest and negotiate them more effectively.
Street Diligence was founded in 2012 by former hedge fund portfolio managers and analysts to identify and negotiate away off-market terms, in addition to taking the frustration and tedium out of due diligence. The company is headquartered in New York, with offices in Boston.
For more information, please visit: www.streetdiligence.com