NEW YORK, Jan 23 (LPC) - The Securities and Exchange
Commission (SEC) dealt a setback to Business Development
Companies (BDCs) after declining to exempt the market from
specific fee disclosure requirements that many see as an
obstacle to liquidity.
NEW YORK, Jan 14 (LPC) - Middle market lenders are starting
to feel the pinch of aggressive borrower-friendly features meant
to reduce leverage as companies fail to hit revenue expectations
and remain saddled with billions of dollars in debt.
NEW YORK, Nov 22 (LPC) - A large number of business
development companies (BDC) reporting earnings on the third
quarter of the year saw their net asset value (NAV) per share
drop as a declining Libor rate and underperforming credits take
their toll on middle market lenders.
NEW YORK, Nov 14 (LPC) - Private credit funds with deep
pockets, capital flexibility and sticky investments are
positioning themselves for the yield bonanza that could follow
if a cooldown in the US economy was to further shutter bank
liquidity and investor appetite for broadly syndicated loans.
NEW YORK, Oct 22 (LPC) - Investors who have binged on the US
private credit market in the last few years are now turning to
the growing specialty finance space where competition is less
intense and spreads are more attractive.
NEW YORK, Sept 16 (LPC) - Business development companies
(BDC) are consolidating in the highly competitive middle market
as more firms look to scale up their operations ahead of a
potential recession in the US.
NEW YORK, Sept 3 (LPC) - Business development companies
(BDCs) are becoming increasingly vocal as they look to push the
Securities and Exchange Commission (SEC) to exempt the industry
from reporting requirements that they argue are curtailing the
liquidity in the market and limiting its potential for growth.
NEW YORK, Aug 29 (LPC) - Private credit funds and business
development companies (BDCs) are positioning their portfolios to
deal with a potential economic downturn, which will be the first
real test for a market that has come of age since 2008’s
NEW YORK, Aug 28 (LPC) - Physician outsourcing
provider Envision Healthcare has seen the value of its US$5.45bn
term loan B sink throughout August as weak earnings and
political uncertainty around the US healthcare sector weigh on
investor appetite, investors and analysts told Refinitiv LPC.
NEW YORK, Aug 15 (LPC) - The private debt market has largely
been immune to the covenant-lite trend, but a recent spike in
so-called covenant-loose lending suggests funds are finding ways
to offer more aggressive terms while sticking to investor
demands to maintain certain restrictions on borrowers.