Bank Debt
topic on 2 shows · 3 statements across 3 episodes
Capital Allocators 
Top Founders
3 statements about Bank Debt, every show
Leffell: Distressed Bank Debt Did Not Historically Trade Before Late 1980s
“Buying bank debt, and bank debt did not historically trade. So these were one-off transactions. It was pretty much a small group of banks and funds that were doing it.”
Miller: Traditional Bank Debt Typically Sized at Two to Three Times EBITDA
“The basic bank debt was very plain vanilla. There were no warrants. It was purely a multiple of EBITDA, typically. Two to three times depending.”
Corre: CLO Slowdown Is Creating Greater Concessions in Large Bank Debt
“Essentially the bank debt market, leverage loan market, I should say, has been really dominated by the CLOs. And that algorithm right now is broken. So CLO formation is harder now than it was before. There's less demand for the triple A tranches of CLOs. So wh…”