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Private credit lenders

3 statements across 3 episodes · 1 bullish · 0 bearish · 3 people on the record · first statement Apr 17, 2023 by John Toomey · across every show →

Everything said about Private credit lenders, oldest first

Apr 17, 2023 positive
Insight
Toomey: Covenant-light debt benefits both equity holders and debt lenders
“I think cov light or no financial covenant debt is a beautiful thing for the equity. And I actually think it's good for the lenders too, and allows you to ride out any period of volatility.”
John Toomey Apr 17, 2023 ▶ 55:29 Mario Giannini & John Toomey – Private Equity Panel (Capital Allocators EP.309)
Oct 14, 2023
Assertion Supported
Private Credit Lenders Issue NAV Loans at 12-14% Yields and 10-20% LTV
“Accustomed to providing leverage to individual companies, lenders can now issue 12 to 14% senior paper at 10 to 20% LTV backed by a diversified portfolio of companies.”
Ted Seides Oct 14, 2023 ▶ 1:40 WTT - NAV Loans: Canary or the Gold Mine?
Oct 26, 2023 neutral
Assertion Not checkable as stated
Competing private credit lenders differ by just 25–50 bps on terms
“We're not underwriting really tough credits. We're not a distress shop, so we're underwriting really solid market-leading businesses. So maybe on the spread, there could be a 25 basis point difference, and maybe on the fee, 25 to 50 basis point difference betw…”
Tim Lyne Oct 26, 2023 ▶ 23:21 Tim Lyne – Three Decades of Private Credit at Antares (EP.346)
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