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Record fundraising in 2025 has left private lenders fighting for deals
Long seen as adversaries, banks and private credit lenders are getting used to working together
Fahy will also lead asset-based finance origination
Direct lending default rates tick higher amid notable distressed situations
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Several prominent Schuldschein arrangers believe the market must stop setting Euribor floors at 0% this year if it is to lure international borrowers back from the bond markets. If SSD arrangers can persuade investors to settle for lower minimums, corporate treasurers may find the SSD market a compelling alternative to bond markets once more, writes Silas Brown. -
UK stationery retailer Paperchase has submitted a notice of intent to appoint administrators, as it struggles to cope with the effects of lockdowns and disruption to Christmas sales.
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Toby Croasdell has been appointed global head of MTNs, private placements and commercial paper at Crédit Agricole, following the promotion of previous head Benjamin Lamberg last month.
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The US private placement market rarely gets going until after its main conference in Miami in January, typically restricting deal flow to February. Restrictions on travel mean the event is on ice until September, offering a rare opportunity for early movers. But many in the market still do not see a strong pipeline of deals.
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Fondo Gomma Plastica, Fopen, Pegaso and Previmoda are looking for a direct lender to manage just under €200m of capital, in a push for higher yielding assets.
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No two crises are the same, and to expect financial instruments to behave in the same way in each one would be unfair and naïve. But having proved their mettle in the 2008 crisis, the Schuldschein and USPP markets seemed well placed to thrive in 2020. Not so. Instead, it was the turn of direct lending to shine. Silas Brown reports.
