The restricted payments covenant has changed unrecognisably as borrowers seek more room for manoeuvre in a downturn.
3 min read · 30 January 2020
Strong institutional demand for more risk plays into the hands of non-bank property lenders.
3 min read · 24 January 2020
The purchase of the Asian lender jump-starts Ares Management’s operations in the region, where many of its peers already have devoted resources.
2 min read · 23 January 2020
Although private debt capital raising continued to decline last year, investors are far from abandoning the asset class.
2 min read · 16 January 2020
Unable to force deal sponsors to the table in times of stress, lenders find themselves effectively handcuffed. No wonder the covenant-lite loan remains one of the asset class’s big talking points.
2 min read · 09 January 2020
PDI’s private debt prognosticators take a crack at predicting several of the big themes that will be front of mind next year.
3 min read · 12 December 2019
The credit fund secondaries market could be huge. The question is ‘when?’
2 min read · 09 December 2019
Market sources tell us of some aggressive practices being undertaken by lenders at the smaller end of the market.
3 min read · 05 December 2019
Talk of how to respond to a downturn was on the agenda at our recent London event, amid scepticism that fund managers were sufficiently well prepared.
3 min read · 28 November 2019
