Private Credit

The recapitalization transaction lowers the company’s debt by about 65% and provides $75 million of new capital.

The firm said the share of private companies that reported year-over-year revenue growth totaled 70.7% in Q2, up from 69.6% in Q1.

Incumbent lender Eagle Point Credit Management served as lead investor on the loan.

Debt tranches in non-accrual status at the top ten BDCs rose to 3.95% of total debt at cost in Q2, up 20 bps from the prior quarter.

The most recent European direct lending data shows a boost in deal count and estimated volume.

The Swiss firm raised capital from a single, unnamed Asian institutional investor.

The European Private Credit Monitor provides a high-level view of private credit market activity. Topics covered include counts and estimated volume, spread distribution and leverage.

Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs and KKR all formed strategic partnerships with NVIDIA to establish independent financing platforms.

SLR’s Michael Gross says lenders may have to throw historic recovery data out the window.

CEO Scott Nuttall said that he does not recall a period when “the external perception is so disconnected from the operating fundamentals and how it feels inside the firm.”

The lender reported $219 million of gross fundings in Q2, against $747 million of sales and repayments.

Ares is in talks to lead the debt financing for the non-sponsored M&A deal, sources said. Price talk on the second-lien facility is S+800.

The US Private Credit Monitor provides a high-level view of private credit market activity. Topics covered include estimated volume and counts, spread distribution, syndicated and direct lending takeouts, and middle market CLO issuance.

The non-accruals included several consumer-facing and animal-care businesses.

In Q1, Carlyle Credit Solutions’ investors tendered roughly 4.8% of shares.

The Proskauer Private Credit Default Index tracks US senior secured and unitranche loans, including 716 loans representing $195.6 billion in original principal amount.

A potential tie-up with Leonard Green & Partners would help the listed giant expand a relatively small PE footprint and boost its fee-paying AUM.

Advances in AI have changed the game for software businesses, Hayfin’s Marc Chowrimootoo tells LCD.