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Sectors remain vulnerable to ‘sharp revaluations’, says BoE’s financial stability watchdog
Plus, private credit’s new favourite financing tool
Many companies that gorged on leverage loans are now grappling with liquidity challenges
Private equity firm raises funds through collateralised loan obligation secured by its portfolio
How dangerous is higher for longer?
Rapid increases in borrowing costs prompt concerns about more defaults on $13tn of debt, but companies are finding new ways to survive
Leveraged companies that did not hedge against rising rates may be forced to tap cash reserves to cover spending
KKR’s PetVet is latest to turn to direct lenders as $3bn loans approach maturity
Concern about loans getting stuck on their balance sheets has left some lenders wary of riskier deals
Rating agency says looming ‘race to the bottom’ between banks and private debt funds could erode credit quality
Demand for Worldpay and Syneos Health bonds and loans shows ‘hunger for new supply in high-yield’
Loans secured against private equity funds being used to support struggling businesses amid surge in interest rates
Revenue should never be the basis for borrowing heavily
Fax your friends! Fax your spouses! It’s time to celebrate.
Vista Equity agrees to invest $1bn in fintech Finastra in return for $4.8bn refinancing
The SEC refuses to say
Deteriorating creditworthiness is latest sign companies that binged on cheap debt are struggling with rising rates
Restrictions come amid worries about financial stability risks posed by fast-growing $1.5tn industry
New vehicle will back $10bn in collateralised loan obligation issuance after slowdown in market
UK regulator says penalties for borrowers that miss sustainability targets are too lenient
Debt rating agency singles out Ares and Owl Rock funds for scrutiny after interest rates rise
Buyout group’s purchase of loans gives the online company some breathing room
CLOs’ appetite for debt wanes due to limits on purchases, pushing up cost of capital as economy slows
At least $700bn of junk loans are still priced using lending benchmark, just 30 days before the rate is set to expire
Lenders return to funding leveraged buyouts after painful year in which fees were hit hard
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