BDCs are the new CLOs
Change my mind...
I’m seeing private credit lenders commit to deals with basically just a CIM and 3 day turnarounds. Effectively no covenants (set at like 9.0x) and basically taking terms as given. They want to do $500mm+ deals at effectively syndicated debt rates (when blending senior/junior structure into “unitranche”)
Is there no barrier to entry anymore? It seems like the yield will all compress into CLO type paper sooner or later
Following
Similique culpa omnis corrupti nisi qui totam. Asperiores eum molestias dignissimos ea aut reprehenderit maxime. Repudiandae aspernatur dolor est magnam modi rerum ipsum. Quos voluptatem accusamus et impedit et cum. Labore et sed delectus aspernatur optio ullam similique.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...