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Apr 5, 2024 | 
9fin.com | Josie Shillito
Market WrapJosie Shillito5 April 2024•5 min readAfter a slow(ish) start to the year, LBOs seem to be back on the menu in European private credit. However, competition is high, with dry powder in private equity and private credit hungrily chasing these opportunities.
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Mar 22, 2024 | 
9fin.com | Josie Shillito
Market WrapJosie Shillito22 March 2024•4 min readOne drizzly night in autumn 2023 in a pub near Soho, a small huddle of City suits talked seriously at a table to the side of the bar. These were not regulars. The next week it would be another pub, another borough carefully selected to put distance between themselves and their place of work next to the Old Bailey in St Pauls.
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Mar 15, 2024 | 
9fin.com | Josie Shillito |Amaya Urgoiti Basurto
News and AnalysisJosie Shillito+Amaya Urgoiti Basurto15 March 2024•5 min readPrivate credit funds operated by global asset manager Barings face suspension or termination following the departure of 26 key personnel from the US and European direct lending teams at the beginning of this week (w/c 11 March), sources close to the matter told 9fin.
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Feb 29, 2024 | 
9fin.com | Josie Shillito
Market WrapJosie Shillito1 March 2024•6 min readRecently launched transactions, such as the $5bn refinancing of UK insurance broker Ardonagh and the £800m-equivalent term loan B for forecourt operator Motor Fuel Group invite private credit participation pari passu with publicly traded debt, such that can be considered ‘hybrid’ transactions. However, its is the illiquid currency element in these deals (sterling) that is pulling private credit into BSL deals.
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Feb 27, 2024 | 
9fin.com | Josie Shillito
9QuestionJosie Shillito28 February 2024•5 min read9Questions is our Q&A series featuring key decision-makers in the corporate credit markets — get in touch if you know who we should be talking to!Debt advisors are playing a more important role than ever in the private credit world, particularly as businesses and sponsors battle high interest rates, cost inflation and low growth. But as the advisory service provision has grown, a cookie-cutter approach to clients has taken root.
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Feb 23, 2024 | 
9fin.com | Josie Shillito |Synne Johnsson
Market WrapJosie Shillito+Synne Johnsson23 February 2024•4 min readLarge-cap private credit funds are repricing as many of their deals as possible at the request of their sponsors, and the squeeze is felt all the way down into the lower mid-market, according to 9fin sources. This week, 9fin reported the private debt repricing of Silverlake-owned Italian tech platform Facile, down by 100bps. More details on the debt package and final pricing available for 9fin clients here.
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Feb 15, 2024 | 
9fin.com | Josie Shillito
Market WrapJosie Shillito16 February 2024•3 min readPrivate credit repricings are finally a reality in Europe. According to 9fin sources, a large-cap private credit deal (shortly to be named) has repriced its debt by 100bps, bringing it into closer alignment with the broadly syndicated loan (BSL) market. Many more are expected to follow. Read all our public content for freeSign up for our newsletter to read this article nowWe won't spam. You can unsubscribe at any time.
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Feb 15, 2024 | 
9fin.com | Josie Shillito
Market WrapJosie Shillito16 February 2024•3 min readPrivate credit repricings are finally a reality in Europe. According to 9fin sources, a large-cap private credit deal (shortly to be named) has repriced its debt by 100bps, bringing it into closer alignment with the broadly syndicated loan (BSL) market. Many more are expected to follow. Read all our public content for freeSign up for our newsletter to read this article nowWe won't spam. You can unsubscribe at any time.
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Feb 5, 2024 | 
9fin.com | Shubham Saharan |Peter Benson |Josie Shillito
News and AnalysisShubham Saharan+Peter Benson+ 1 more6 February 2024•3 min readPrivate credit firms were on the attack for much of last year. Now they’re playing defense. As the promise of lower interest rates intersects with a wave of CLO creation, banks are storming back into the loan market to reclaim territory they lost to direct lenders. Syndicated loans are offering far lower pricing, as shown by the recent avalanche of repricing transactions.
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Feb 1, 2024 | 
9fin.com | Josie Shillito
Market WrapJosie Shillito2 February 2024•4 min readAlways fond of a rebranding, (BSL in lieu of syndicated, private credit CLO instead of middle market CLO), the latest newspeak to hit private credit is the ‘uniPIK’, 2023 and 2024’s answer to the unitranche. Read all our public content for freeSign up for our newsletter to read this article nowWe won't spam. You can unsubscribe at any time.
