Current and anticipated trends in direct lending

Current and anticipated trends in direct lending

Since 2008, and especially since 2013, direct lending has offered a new source of liquidity for European mid-market borrowers unable to access capital from the traditional lending community to refinance and grow in the aftermath of the financial crisis, and of insufficient size to access the debt capital markets. This article reflects on the present state of the direct lending market using data from Deloitte and Preqin, as well as the author’s own observations of market activity and following discussions with a number of other market participants. It then considers some of the key issues – legal and practical – that arise where super-senior revolving credit facilities and asset-based lending facilities are introduced into direct lending capital structures, before concluding with the author’s predictions for key themes that could shape the direct lending market in 2018 and beyond.

                                                       Click here to read the full article by Max Millington at Osborne Clarke.

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About the author:

Neeta started her legal career at Allen & Overy in 2008 in the midst of the global financial crisis and the collapse of Lehmans where she gained most of her paralegal experience.

Neeta also did a short stint in litigation at the Revenue and Customs Prosecutions Office in 2006. Neeta graduated with a 2:1 honours degree from University of London, Queen Mary College and went on to obtain a distinction from the College of Law in the Legal Practice. She has been working at Lexis Nexis since April 2013.