Special Report: COVID opens new doors for China's gene giant
As countries scramble to test for the novel coronavirus, a Chinese company has become a go-to name around the world.
David Brooke
Direct lenders turn on firepower amid Covid jitters
LONDON, July 2 (LPC) - Direct lenders are turning on their firepower to provide financing for European companies, taking advantage of market jitters caused by Covid-19 in the leveraged finance market.
Birdman producer turns to private credit
NEW YORK, June 16 (LPC) - Film production company New Regency has turned to a private debt lender Carlyle Direct Lending for a US$125m loan, according to a press statement.
Venture lending BDCs tap opportunities in pandemic
NEW YORK, June 15 (LPC) - Venture lending business development companies (BDCs) are becoming increasingly active in the private credit space as the coronavirus pandemic continues to weigh down more traditional sources of lending for small and mid-sized companies.
Pathway finds ally in Ares for US$1.28bn debt deal
NEW YORK, June 15 (LPC) - Veterinary services provider Pathway Vet Alliance has turned to the private debt market to place a US$255m second-lien loan that would have made a larger debt package a harder sell among investors.
ABL providers step up with capital in uncertain environment
NEW YORK, May 22 (LPC) - Middle market companies that have exhausted traditional funding sources are increasingly using their assets as collateral to access vital liquidity for their operations.
Middle market sponsors face increased pricing, covenants as Covid-19 crisis deepens
NEW YORK, April 30 (LPC) - A trickle of deals in middle market sponsored lending is showing early signs of increased pricing and more lender-friendly documentation, reversing a years-long trend that had seen private equity borrowers’ benefit.
Dividend cuts loom over BDC market as pandemic extends
NEW YORK, April 16 (LPC) - Business development companies (BDC) feeling the squeeze from the economic shutdown caused by the coronavirus pandemic are likely to pass that pressure onto shareholders over the next two quarters through dividend cuts.
Golden Nugget offers hefty concession on US$250m loan amid pandemic
NEW YORK, April 6 (LPC) - Texas businessman Tilman Fertitta is after US$250m from US leveraged loan investors to shore up liquidity at a time when the novel coronavirus has forced the hospitality magnate to cease operations at his casinos and restaurants, according to sources familiar with the transaction.
BDCs reassure investors as they confront coronavirus, recession fears
NEW YORK, March 27 (LPC) - Business development companies (BDCs) are seeking to reassure their investors as they face a one-two punch from the coronavirus pandemic and fears of a deep recession rattle the US.
Coronavirus puts private credit to the test
NEW YORK, March 11 (LPC) - Private credit funds face a challenging fundraising environment, as investors grapple with a potential decline in portfolio values while the coronavirus outbreak tests the solidness of a market that has yet to experience a significant shakeup.