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With LBOs scarce, leverage in syndicated US loan market sinks to 7-year low
Pitchbook via Yahoo Finance· 1 year agoThe debt/EBITDA ratio of new-issue US leveraged loans has fallen below 5x for the first time in seven years as LBOs, a traditional staple of the broadly syndicated market, remain largely absent ...
Future Problems for Private Lending Will Start Today
The Wall Street Journal· 1 month agoHEARD ON THE STREET Private credit has a supply problem. When investment banks were pulling back from the market for risky loans, private credit was...
Antares steps into broadly syndicated loans, hires Katzenstein to lead business
Pitchbook via Yahoo Finance· 1 year agoAntares Capital is expanding into the broadly syndicated loan market, saying it plans to build an investment team of seven to start. The firm has hired Seth Katzenstein to lead the business, ...
BDCs: Private credit share of leveraged loans outpaces syndicated debt
Pitchbook via Yahoo Finance· 2 years agoIncreasingly, private credit lenders are providing financing, in the form of leveraged loans, to companies that were once supplied by the traditional broadly syndicated loan market. LCD’s BDC ...
Private credit LBOs in Q4 far exceed syndicated leveraged loans
Pitchbook via Yahoo Finance· 2 years agoThe US leveraged loan market looks set to end 2022 with a whimper, not a bang. Fourth-quarter LCD data shows just how quiet it will be. But there is still noise coming from one corner of credit ...
Large private credit deals increasingly losing maintenance covenants – Moody's
Pitchbook via Yahoo Finance· 8 months agoLarger private credit loans are eliminating maintenance covenants as the market takes on traits of the syndicated loan market, according to a Moody's report published yesterday. Traditionally ...
Private Credit 2023 Outlook: More market share, higher yield. But more defaults, too
Pitchbook via Yahoo Finance· 1 year agoAs The Office’s Michael Scott said, “I’m going through a little bit of a rough patch. The whole year, actually.” He may as well have been describing 2022 for the syndicated loan market. After ...
Q3 2023 US Leveraged Finance Survey: Funds continue to favor private credit
Pitchbook via Yahoo Finance· 9 months agoThe leveraged loan trading market has been on a tear this year — the Morningstar LSTA US Leveraged Loan Index has achieved equity-like returns in 2023 as interest rates have soared to levels ...
Private Credit: It's not just for LBOs, LCD data show
Pitchbook via Yahoo Finance· 1 year agoPrivate credit providers have been making headlines for snapping up a significant share of US LBO financing opportunities from the traditional broadly syndicated loan market. But private credit ...
Banks Strike Back Against Private Credit
The Wall Street Journal· 2 months agoWhen it comes to financing deals, don’t count out the big Wall Street banks quite yet. A big narrative in recent years has been that America’s biggest...
