Bloomberg Quotes Ranesh Ramanathan on PE Firms Accessing Private Credit for Add-On Acquisitions
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For its article “Buyout Firms Turn to $1.5 Trillion Private Credit Market to Sidestep Costly Debt Clause,” Bloomberg quoted Akin special situations & private credit practice co-head Ranesh Ramanathan. The article looks at how private equity firms are accessing the private credit market to finance small add-on acquisitions for companies already in their portfolios and avoid the most-favored-nation (MFN) clause.
Said Ranesh, “Private credit managers can also provide a note instead of loan, lend against a collateral pool that isn’t restricted by the existing loan agreement, or provide junior capital with longer maturities to get around a MFN.”
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