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Market Wrap

Private credit has a bone to PIK

Emily Fasold's avatar
Sasha Padbidri's avatar
David Bell's avatar
  1. Emily Fasold
  2. +Sasha Padbidri
  3. + 1 more
•4 min read

As competition between underwriters ramps up and borrowers grapple with tightening free cash flow amid high interest rates, some direct lenders are offering a tool that many debt investors have shied away from in the past — payment-in-kind coupons.

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