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...For instance, loan loss provisions were 0.6 per cent in the 2022 annual report. In the 2023 version that figure became 1 per cent....
...Businesses including technology company Hyland Software, fintech group Finastra, shoemaker Cole Haan and manufacturer Tecomet have paid off their obligations with new loans from the private debt industry...
...Borrowers were left unable to secure new loans or move to other lenders, including over the past two years when interest rates have soared....
...“For example, if my buy-to-let mortgage is up for renewal, should I use my capital to pay down the loan or contribute more to my pension?” he said. How will Making Tax Digital change the landscape?...
...And in recent years, the securitisation market has become a welcoming home to deals backed by everything from music rights to software companies’ private credit loans....
...But according to data from website PitchBook LCD, five of the 10 largest, low-rated leveraged loans due in 2024 and 2025 come from software companies....
...But it really came into its own during the Covid pandemic when it processed more than $5.5bn in government-backed Paycheck Protection Program loans, and other banks using its software handed out more than...
...Silver Lake itself made a similar investment in Germany’s Software AG, which it ended up acquiring. The attraction, from Viavi’s side, is clear....
...“SVB knew their client segment really well,” said the chief financial officer of a $1bn software start-up....
...Private credit funds stepped into the gap, writing multibillion-dollar loans to companies including Norwegian online classifieds company Adevinta and software maker New Relic, and providing money at a time...
...The company spent £15mn — 2.5 per cent of profits — retrofitting updated security software....
...Mobileum in December failed to make an interest payment on a portion of $540mn in floating-rate term loans....
...Meanwhile, despite being heavily leveraged, Eurowag’s loan-to-value ratio has increased. The sinking sales will be a blow to investors who bought into Eurowag’s growth story....
...UKG, a large software company backed by investors including Hellman & Friedman and Blackstone, in January refinanced more than $7bn in term loans, cutting its interest rate, partly by increasing the use...
...It showed that the pricing of such loans was usually based on weak targets that did not link to ESG conditions most relevant to the borrower so the loans were unlikely to result in sustainability improvements...
...“But Ant and other Chinese peers need to offer a much better product to grab market share in the . . . global arena of fintech software.”...
...NAV loans in particular are under more scrutiny from investors as they have become more common....
...Much of its growth comes from new software products designed to analyse data, make credit decisions and prevent fraud....
...And so then, when this yield curve inverts I’m actually making more money off the interest rate in that three-month loan, the short-term loan than I am on the 10-year loan. Right?...
...For a typical non-software LBO [leveraged buyout, the main type of transaction against which private credit loans are made] this time last year, spreads were around 625-675bp....
...Blackstone will sell loans that BCRED owns to the CLO as part of the deal, including debt from software maker Zendesk, cyber security business Mimecast and Unified Women’s Healthcare, which provides business...
...These include Thoma Bravo, which used private lenders to help fund its $8bn purchase of business software provider Coupa Software, and Hellman & Friedman and Permira, which inked roughly $5bn in loans from...
...Under current criteria, a telecoms company could qualify for transition funding if it deals in teleconferencing software....
...owed by Farfetch, according to a disclosure filing.The investment group Greenoaks, an early Coupang backer, will also take part in the rescue deal that will give Farfetch a $500mn bridge loan to continue...
...Some of the US companies that have been downgraded in recent weeks include Aspen Dental Management, MedData and investment software company Confluence Technologies....
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