News Digest:

Several leading banks in U.S., Europe, U.K. and Japan are learnt to be looking to dispose of significant chunks of the debt financing deals they underwrote last year to private credit funds.

Takeaway:

Many of these underwriting transactions – underpinning some of the major recent leveraged buyouts – happened before a sharp widening of credit spreads and a spike in interest rates, amid reduced investor appetite for riskier assets.

End Notes

Source: https://www.bloomberg.com/news/articles/2022-02-17/private-credit-funds-swoop-in-to-bail-out-banks-riskier-bets