As we conclude our European private credit series, let’s review what we’ve learned:
Europe suffered a similar Covid slump (and enjoyed a similar rebound) as the US. Deal volumes are at record highs. Europe retained the country-by-country distinctions they had pre-Covid.
Pricing in the US and across the pond is close. Though European upfront fees are higher, certain terms are decidedly more issuer-friendly. Banks have been more aggressive than direct lenders in some locales...