The Great Reception: Private Credit Outlook

We wrap our special 2021 outlook with private credit.

Its value proposition was fully supported last year, coming through the pandemic mostly unscathed. But with conditions becoming more issuer-friendly, how will private credit terms be impacted?

When liquid loan yields contract, illiquid loan yields tend to follow. But they carry at least a 100 bp premium, and at least 200 bps vs. high yield bonds…

(Past performance is no guarantee of future results.)

▶︎ Read Mar 1 2021 newsletter: here

▶︎ Chart of the Week: here (by Refinitiv LPC 1Q21 Market Trends, Middle Market Weekly)