Blacklisted lenders
Which lenders are blacklisted at your firm? We've been running into significant issues with commercial banks that seem determined to drive the company into the ground with how unreasonable they are on amendment terms
PNC ABL group.
Tell me more please. Evaluating deal behind them
They’re bad at their jobs. I’ve had the same issues as this guy.
LMAO, they also force their first years to do field exam's and use field exam as a profit center
Based on the most helpful WSO content, there isn't a specific list of "blacklisted lenders" mentioned. However, discussions often highlight challenges with certain commercial banks or lenders being overly stringent or unreasonable in their terms, especially during amendment negotiations. If you're encountering such issues, it might be worth exploring alternative lenders or non-bank financial institutions, as they are increasingly stepping in to fill gaps left by traditional banks. These alternative lenders often provide more flexibility in structured finance, RMBS, CMBS, and middle-market lending.
If you're looking for specific advice or insights on navigating these challenges, consider sharing more details about the situation or exploring threads on alternative lending strategies.
Sources: Alternative Lenders & the End of Risk Taking for Banks - Opportunity or Risk?, https://www.wallstreetoasis.com/forum/investment-banking/from-a-levfin-banker-this-is-how-an-apollo-lbo-deal-works?customgpt=1, "Reputation Risk" in CRE lending, Current IBankers: What would you do if a summer candidate reneged another offer to sign with your firm?, Being Black is Paradise
Oh no my lenders won't give me flexibility waaah
Bump
We black list a few former distressed debt funds who are trying to pivot to private credit as their distressed funds have failed to fundraise and need to continue Aum gathering. We don’t blacklist them explicitly, just ghost them and know to never work with them.
exactly!
imagine if blacklisted private credit lenders were displayed somewhere..... would make my life so much easier for my vp
Just look at DQ lists of broadly syndicated loans? They all vary depending on the sponsor. I honestly think a lot of them are super random. They will maybe list 6 or 7 random distressed funds (out of the universe that is much larger) and then a couple random vanilla private credit funds that maybe the sponsor us mad at.
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