US vs Europe: How NAV Facilities Differ on Leverage, Pricing, Security
NAV Facilities: US vs Europe Structure and Pricing A net asset value facility is a senior secured loan to a […]
Private Credit
European Mid-Market NAV Lending to PE and Private Credit: Structures and Risks
NAV Facilities in Private Equity: Structure, Terms, Risks A net asset value facility is a fund-level loan secured by the
NAV Facilities vs. Subscription Lines: Structure, Collateral, and Recourse Differences
NAV vs Subscription Lines: Structure, Pricing, Execution A net asset value facility is a loan to a fund that is
Structuring Sponsor Holdco PIK Notes Above Senior Lenders: Key Considerations
Holdco PIK Notes: Structure, Pricing, Execution Holdco PIK notes are loans issued at a sponsor’s holding company above the operating
Holdco PIK Notes: U.S. vs Europe—Pricing, Security, Documentation
Holdco PIK Notes: Structure, Pricing, and Execution Holdco PIK notes are loans issued at a holding company above the operating
Holdco PIK Notes: How Sponsors Raise Incremental Capital in European Mid-Market Deals
Holdco PIK Notes: Structure, Terms, Risks, and Uses Holdco PIK notes are debt issued by a holding company above the
Holdco PIK Notes in Private Credit: Structure, Terms, Capital Stack Seniority
Holdco PIK Notes: Structure, Terms, Risks Holdco payment-in-kind notes are debt issued by a parent holding company whose main asset
7 Steps to Structure Second-Lien Loans Behind Senior Facilities for PE Sponsors
Second-Lien Loans: Structure, Intercreditor, Execution Second-lien debt is a secured loan that shares collateral with first-lien facilities but sits behind
Second-Lien Loans: US vs Europe on Leverage, Intercreditor Terms, Pricing
Second Lien Loans: Structure, Pricing, and Risks A second-lien loan is a secured term loan that shares the same collateral
When Second Lien Loans Fit European Sponsor-Backed Mid-Market Deals
Second-Lien Loans: When They Work and How to Structure A second-lien loan is a junior-ranking, secured, cash-pay term loan that