Leveraged credit markets had a few reasons to cheer this week as bankers lined up a hefty financing package for Stone Point and CD&R’s $15.5bn acquisition of Truist’s remaining stake in its insurance arm, while KKR hired UBS to arrange debt for its bid to buy VMware’s end-user software business.

These deals could offer some potential new money supply to an investor base that has been screaming for new deals, as shown by the positive reaction to a $5.6bn debt package to fund KKR’s acquisition of a stake in Cotiviti. The sponsor opted for syndicated debt over direct lenders, although the inclusion of an unusual $750m fixed rate TLBmight reflect the increasing overlap and bespoke nature of LBO financing as these markets evolve.