Private Credit Loans Are Growing Bigger and Breaking Records (1)

The $1.5 trillion private credit market just set a fresh record for the largest loan in its history. With growing firepower, direct lenders are poised to take ever more deals away from banks and from the junk bond and leveraged loan markets.

Private lenders including Oak Hill Advisors LP, Blue Owl Capital Inc. and HPS Investment Partners LLC are providing a $5.3 billion loan package to Finastra Group Holdings Ltd., a fintech firm owned by Vista Equity Partners. Comprising a $4.8 billion unitranche, a blend of senior and subordinated debt, and a $500 million revolver facility, the financing ...