In this piece, Alexandra Trapes, Director, Specialist Credit and CLOs, argues that sponsor-less transactions offer a compelling opportunity in the small to medium-sized enterprise (SME) loan space – they generally see less competitive bidding, resulting in more reasonable leverage ratios, less pressure on pricing levels, more conservative loan terms, and meaningful covenants.
What's more, private debt funds with co-lending agreements in place at the local and regional level are in the best position to capitalise on these opportunities.
To find out more, read the full article.