senior debt

2 statements across 2 episodes · 0 bullish · 1 bearish · 2 people on the record · first statement Apr 27, 2023 by Aaron Sack · across every show →

Everything said about senior debt, oldest first

Apr 27, 2023 neutral
Disclosure
Sack: Morgan Stanley PE's recent deal used senior debt at around 3x EBITDA
“So the financing was there. It was interested. It was constructive, but it was senior only through something like three-ish Turns of EBITDA, not seven or eight or nine or whatever people out there reading about private equity think we do, and we put a lot of o…”
Aaron Sack Apr 27, 2023 ▶ 23:22 Aaron Sack – Branded Middle Market Investing at Morgan Stanley (Capital Allocators, EP.311)
Jul 24, 2023 bearish
Insight
Sustained 12% Senior Debt Rates Would Cause an Economic Depression
“You can't finance the US economy with senior debt at 12%. You'll create a depression.”
Kipp deVeer Jul 24, 2023 ▶ 55:05 Kipp deVeer – The World of Private Credit at Ares (EP.329)
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