Americas Private Credit Review

Financial Services attorney Rob Harris was featured in Octus' Americas Private Credit Review commenting on private credit's growing share of the broadly syndicated market. Mr. Harris, who co-leads Holland & Knight's Private Credit Team, explained this asset class offers more flexibility than traditional commercial lending through banks, which is why more borrowers are using it to refinance broadly syndicated debt. The article cited several examples of this trend, with deals worth hundreds of millions to billions of dollars. Mr. Harris added that private credit funds follow different rules for marking portfolios than commercial banks, allowing parties to hold troubled credits without providing additional capital and making this path especially attractive for lower-rated borrowers.

"Private credit has been providing more sponsor-friendly terms, more flexibility in covenants and, generally, is more accommodating," he said.

READ: Americas Private Credit Review (Subscription required)