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Graham Bippart

Top tips on staying in front of investors, getting ahead of their expectations on reporting and staying in compliance.
Is $500bn in sub line supply not enough anymore?; PEI podcast and a new survey on managers’ outlooks in light of the pandemic.
Was the supply/demand imbalance some insist exists now a pre-existing condition? And what does the future look like for the sub line market?
It’s gotten harder to find a syndicate for new, large transactions. And some banks are trying to sell down existing pre-covid exposures, in some cases to make room for new loans at new, higher prices.
New lending is happening, but it’s a different world out there for some, and you may find yourself looking for a new bank. Experts weigh in with their advice on getting subscription finance in the new environment.
‘Sub line for sale, L+160! Any takers? Hello?’; new issue: the summer of subscription credit.
'What would you do if you were in my position?' asked one banker, faced with having to turn down borrowers the bank had been trying to woo from a competitor for years; SEC warns that GPs aren’t following their own rules on co-investments.
Even some blue-chip sponsors have been rejected by relationship lenders. This has forced them to branch out, sometimes only to be rebuffed by banks dealing with their own limits on their ability – and appetite – to lend.
There are 'real credit concerns' for some lenders, according to Wells Fargo; Lenders talk about how they're mitigating those credit concerns
NAV covenants and capital call minimums are increasingly being used in subscription credit line deal documents, say market participants. Even recourse to assets may be on the table.
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