Wall Street Banks Want to Lure Back Loan Deals Lost to Private Credit
- Bankers are drawing up deal wish lists, people familiar said
- Direct lenders and banks seen competing on refinancing rates
The Goldman Sachs headquarters in New York.
Photographer: Michael Nagle/BloombergThis article is for subscribers only.
Investment banks including Goldman Sachs Group Inc., Citigroup Inc. and Barclays Plc are seeking to poach back leveraged finance deals that were snapped up by direct lenders when markets were more volatile, according to people with knowledge of the matter.
Bankers in Europe and the US are speaking with buyout firms about private credit loans that were signed when credit spreads were blowing out and banks were preoccupied with hung debt on their balance sheets, the people said. Now that leveraged loan markets have calmed down — and interest rate cuts are on the horizon — they want to get some of the business back.