Banks Reclaim $30 Billion of Debt Deals From Private Credit

Banks are capitalizing on lower interest rates to claw back corporate debt deals from private credit funds, staging a major comeback after losing market share in recent years.

Almost $30 billion of private debt has been refinanced through broadly syndicated loans across more than 70 deals so far this year, according to Bank of America Corp. research, as more borrowers look to slash interest costs.