US sponsored large corporate direct lending loan volume totaled US$12.5bn in 2Q23, 28% lower than 1Q23’s level. The US$12.5bn total represented a 17% share of overall US large corporate sponsored loan volume, its lowest share since 3Q21. With LBO activity more challenging, there has been far fewer jumbo unitranche deals this year. The number of unitranche loans US$500m or larger declined to 14% of all unitranches deals in 1H23, the lowest share since 2020.
(Past performance is no guarantee of future results.)
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Private Credit Defaults 101: Back to School
As Labor Day approaches, the unofficial end of summer is upon us. But, before we get too sad, there is also the familiar back-to-school energy.