Markets have rallied in recent months, but that headline is largely driven by mega-cap technology names and belies stress in out-of-favor segments of the market. With the rate environment turning more hawkish and inflation from the global energy shock looking less transient by the day, there has been a flight to safety among bellwether lenders. Further, imperfectly structured credits are now facing higher yields and lesser availability of capital.
Perhaps more strikingly, we observe a widening dispersion in lender views on creditworthiness. As a result, engaging an agent to drive a rigorous offering process has rarely been more critical for companies looking to raise capital.
Contact Michael Brill, Managing Director and Head of Private Capital Markets at Dinan Capital Advisors, for more report insights.