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Investors eye 2028, 2031, 2032 as big years for loan maturities
Even leveraged deals still being underwritten, though banks are selective
Liquidity event at American manager comes at fraught time for industry
Major sectors in leveraged loans are trading down, making shrewd credit selection vital
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Direct lending group will focus on private equity clients
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Excellion Capital acted as debt advisor to the company
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Direct lenders cannot entirely replace syndicated debt markets
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New structure comes with a €200m privately placed second lien
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Cadbury's, Carlsberg and Hiscox among the pension funds invested