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    Home»Investments»Private lenders are offering cheaper debt than Wall Street banks
    Investments

    Private lenders are offering cheaper debt than Wall Street banks

    July 5, 2022Updated:July 13, 20221 Min Read
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    A secret in a $1.2 trillion world of credit is getting exposed as the Wall Street rout deepens: Private debt is now the cheaper financing option for big-ticket leveraged borrowers than the ailing public market – upending industry norms.

    As banks get pummeled by risk aversion and sinking asset values, direct lenders are lavishing risky companies and private-equity firms with capital at rates below what’s available in the volatility-lashed high yield and syndicated loan market.

    These asset managers are so desperate to unleash all the billions amassed in the low-yield era that they’re increasingly putting up with lower returns than their risk-averse peers in other parts of the credit world are willing to stomach. As traditional lenders beat a retreat, the bonanza is helping power leveraged buyouts with deals including The Access Group, Davies Group, Ivirma Group and Zendesk.

    Read more: BNN Bloomberg

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