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  Direct Lending

  Goldman Sachs leads record €6.5B direct-lending loan for Adevinta

  May 9, 2025

  An upsize makes Goldman Sachs the largest lender on the loan, providing just under 10% of the total package.

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  Leveraged Loans

  In first test of post-tariff loan market, Everi/IGT adds raft of investor-friendly documentation changes on $2.575B LBO credit

  May 8, 2025

  Apollo is acquiring IGT Gaming and Everi in a deal that values the combined businesses at roughly $6.4 billion.

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  Distressed & Defaults

  Leveraged loan default rate dips to 0.73%, but LMEs send dual-track gauge higher

  May 2, 2025

  The landscape for managing unsustainable debt burdens has shifted away from conventional defaults to out-of-court LMEs.

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  Leveraged Loans

  Everi/IGT unveils $2.575B loan backing LBO by Apollo to tariff-shaken investors

  May 2, 2025

  Price talk for the seven-year TLB is S+400-425, with a 0% floor and an OID of 98-98.5.

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  Leveraged Loans

  QXO completes $2.25B TLB for Beacon Roofing acquisition

  April 24, 2025

  Proceeds will be used to finance the acquisition of Beacon Roofing Supply in a deal that values the business at $11 billion.

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  Leveraged Loans

  Loan fund AUM tumbles amid fog of trade war

  April 24, 2025

  In March, the total value of loan fund AUM fell by $6.4 billion, marking the steepest drop since September 2022.

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  Leveraged Loans

  Sponsored European loan issuance surges in Q1 despite modest buyout activity

  April 24, 2025

  A cross-border marquee deal from Opella enlivened an otherwise tepid start to the year for buyout funding in the European leveraged loan market.

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  Direct Lending

  Apollo leads €1.2B loan package backing Karo Healthcare buyout

  April 24, 2025

  The deal is being touted as a win for direct lenders, as banks had also pitched to provide financing for the acquisition.

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  Distressed & Defaults

  Deep Dive: Distressed investors assess tariffs’ impacts and opportunities

  April 15, 2025

  Investors’ expectations for 2025 did not include a trade war.

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  Leveraged Loans

  Taking stock of the tariff turmoil: Loan market recap, what to watch

  April 10, 2025

  President Trump’s surprise 90-day pause on reciprocal tariffs eased fears of most retaliatory trade moves, but markets are bracing for prolonged uncertainty.

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  Tariffs

  Leveraged loan prices plummet following ‘Liberation Day’ tariffs

  April 4, 2025

  The Morningstar LSTA US Leveraged Loan Index lost 0.63% on Thursday following Wednesday’s tariff announcement.

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  Private Credit

  European private credit dealmaking ties quarterly record, but M&A underwhelms

  April 4, 2025

  Europe’s direct lenders produced a strong Q1 deal count, and have changed their pricing strategy to stay competitive.

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  Leveraged Loans

  March Wrap: Leveraged loan returns veer into the red

  April 2, 2025

  Increased uncertainty and a sharp equity market sell-off dampened loan investor demand just as the long-awaited net supply of leveraged loans materialized.

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  Leveraged Loans

  Q1 Leveraged Loan Wrap: Market cools after hot start to the year

  March 28, 2025

  Executing a syndicated loan deal at attractive terms has become less certain, especially for the riskiest borrowers.

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  CLOs

  Janus Henderson launches dollar-denominated CLO ETF for non-US investors

  March 27, 2025

  The fund is listed on the London Stock Exchange, domiciled in Luxembourg and has $22 million of AUM.

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  Private Credit

  Europe’s private credit providers voice concern as uncertainty weighs on M&A

  March 25, 2025

  Geopolitical uncertainty is further undermining a sluggish M&A environment for Europe’s private credit players, while signs of stress are bubbling up.

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  Leveraged Loans

  Loan funds post steep $1.92B outflow amid broad market volatility

  March 21, 2025

  ETF outflows totaled $1.48 billion on the week, while $436 million was withdrawn from mutual funds.

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  Leveraged Loans

  Rush of amend-and-extend loan deals continues as borrowers push out maturities

  March 21, 2025

  A-and-E dealmaking totaled $16.7 billion in February after $14.4 billion was extended in January.

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