EXCLUSIVE: BDCs Face ‘Double Whammy’ As PIK Loans Rise And Spreads Compress, Oxane Managing Director Says
The rise in payment-in-kind (PIK) loans and narrowing lending spreads signal a "strong stress signal" for private credit portfolios, according to Oxane Partners Managing Director Kanav Kalia told. The share of PIK loans in business development company (BDC) portfolios has roughly doubled over the past four to five year