U.S. Direct Lending Wrap: Firms Anticipate Year-End Deal Rush
By Kelsey Butler – Bloomberg
PennantPark Founder and Managing Partner Art Penn was recently quoted in Kelsey Butler’s Bloomberg piece on U.S. direct lenders’ expectations that deal flow will increase ahead of the new year, and potential tax changes under a new administration. Specifically, Art discussed the opportunities that are emerging in the direct lending space. “This upcoming vintage of loans is likely to be the most attractive we’ve seen since the 2009 to 2012 time period,” he said. “Leverage levels are lower, equity cushion is higher, yields are higher and the packages of protections including covenants are tighter.”
The following story appeared on the Bloomberg Terminal.