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Delayed-draw facilities: A key differentiator in a competitive market

Competition between the private credit and broadly syndicated loan (BSL) markets is intensifying, with developments on both sides blurring the distinctions between the two products. One of these distinctive features is the...more

Breaking new ground on the next phase of private credit

Private credit has secured its position as the main provider of debt capital to the mid-market, established its large-cap credentials and is now entering the next phase of its development - After dominating mid-market...more

Lenders explore venture debt opportunities to increase market share

Venture debt endured a challenging 2023, but as lenders look for new product lines to increase deployment after a quiet period, they are turning their attention to the venture debt market. US venture debt lending dropped...more

Incremental debt holds steady in uneven loan market

With incremental loan activity accounting for an outsize share of the leveraged lending market over the past year, we explore the top trends, insights and structuring considerations for lenders and borrowers - Although...more

Private debt players open for business, but only on the right terms

Private debt managers seized the opportunity to win market share in 2022 as leveraged loan and high yield bond activity slowed—moving into 2023, private debt players remain open for business, but mainly on their terms...more

Documentary developments in tighter times

Risks posed by rising inflation, concerns about a global recession and the lingering impact of the war in Ukraine are seeing lenders and investors start to chip away at the loose, borrower-friendly terms that have...more

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