Secondary: Douglas Dynamics’ US$275m loan ticks up as investors seek value – RLPC News
By Aaron Weinman – Refinitiv
PennantPark founder and Managing Partner Art Penn was quoted in Aaron Weinman’s Refinitiv piece on the secondary market, as credit investments in the space have seen an uptick alongside the wider recovery across the debt capital markets. Art noted that the secondary market has remained attractive for middle market lenders during the economic downturn. “Pricing has not rebounded in the lower portion of the broadly syndicated loan market like the larger deals have,” he said. “So these smaller deals, that were never massively distributed in the first place, provide an opportunity for those comfortable enough to invest in them.”