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Bloomberg: Leveraged Lending Insights – 10/27/2025

Loan Funds See Inflows After Consecutive Weeks of Outflows Click here to access Bloomberg’s US Leveraged Finance Chartbook Retail investors have returned to loan funds following two consecutive weeks of net redemptions. The Invesco Senior Loan ETF (BKLN) recorded $73m in inflows during the week of October 21–28, a reversal from the $704m in outflows…

Debtwire Middle-Market – 10/27/2025

Source: VanEck BDC Income ETF, BofA Merrill Lynch US High Yield Effective Yield The blue line in the chart is the current dividend yield of the *VanEck BDC Income ETF (currently at 12% as of 24 October, versus its five-year peak of 12.8% on 8 April) that tracks the overall performance of publicly traded business development…

Covenant Trends - 10/27/2025

Average New-Issue Clearing Spreads (Single B) and Covenant Terms for All First-Lien Institutional Loans (Past performance is no guarantee of future results.) Contact: Steven Miller smiller@covenantreview.com

Middle Market & Private Credit – 10/27/2025

Rapid US Non-Bank Loan Growth Raises Risk of Wider Losses for Banks Click here to learn more. U.S. regional banks’ recent losses tied to non-bank financial institutions (NBFIs) may signal broader risk from this fast-growing loan segment. While these cases may be fraud-related and idiosyncratic, rapid expansion of NBFI exposures increases the chance that concentrated…

PDI Picks – 10/27/2025

Allocations on the increase Our latest GI 75 ranking of private credit’s biggest investors shows allocations increasing, with pension funds and insurers dominant.  Eight is the magic number. It is, in fact, the average allocation made to private credit by the institutions featured in this year’s version of Private Debt Investor’s Global Investor 75 ranking…