Leveraged Loan Insight & Analysis – 9/13/2021

Unitranches continue to grow in size and scale


The size and depth of the direct lending market has grown dramatically in recent years, with mega unitranches increasing in frequency. These larger deals have helped private lenders take market share from the broadly syndicated market and highlighted their growing scale.

Back in 2019, there were 13 unitranches that exceeded US$500m, with only 3 topping US$1bn. This year, there has already been 29 unitranches over US$500m, with 6 of them surpassing the US$2bn mark.