Archive for March 2024
Early March Financing Market Update
Our late January call for a lot of forthcoming press about broadly syndicated TLB markets fighting back/retaking share from private credit was very much on target in the large cap space. Private credit spreads have come in to try to close the gap to BSL. Lots of ‘what me worry?’ kind of commentary about this dynamic from…
Read MoreLate January Financing Market Update [SENT 1/29/24]
There has been strong risk-on lender sentiment for ‘known quantity’ credit across multiple debt markets in early 2024. Broadly syndicated TLB market – healthy demand for repricings, refinancings, and recapitalizations for larger tranche existing issuers that are performing. Think up to ~75 bps in loan spread reduction Pro rata – top of league table arrangers getting…
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