The big retreat from larger loans – or not
Amid a revived broadly syndicated loan market, private debt firms must decide whether to keep competing.
Expert analysis by Andy Thomson
The private debt retreat is underway. Having capitalised on the drying up of the broadly syndicated loan market to take an increasing share of larger-sized loans – let’s say $500 million-plus – during 2022 and 2023, private debt firms are now faced with a re-energised BSL market and a borrower community increasingly heading back to that market to refinance at a lower cost of capital...