Wide open seas for NAV

Fund finance: This final article on the Fund Finance Association’s European Symposium last week discusses the panelists who surveyed the expansive set of use cases for NAV facilities – from low-LTV loans to large growth-equity assets to, essentially, pref equity structured as debt. From unitranche to back-leverage NAV facilities, borrowers are finding new uses for the product on a seemingly daily basis. One borrower, it was said, even uses NAV as a substitute for the leveraged loan market. Read all about it at the link above.

Email prepared by Graham Bippart