'Fantastic' Market for Loans Sees Private Credit Playing Catch-Up
- Junk issuers achieved record-low pricing in public debt market
- Polynt-Reichhold is raising loans to replace a GSO unitranche
A pedestrian walk past an Isabel Marant store in Paris.
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Europe’s syndicated debt market has become so cheap for leveraged companies that it’s winning back ground lost to alternative lenders in recent years.
Junk-rated firms have obtained ultra-low pricing in debt sales this year amid fierce demand from yield-hungry investors. This is encouraging companies that had opted for private lenders in the past to switch to the public debt market.