Private Credit Is Fearing ‘Shadow Defaults’ Because of This Lending Tactic
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Private Credit Is Fearing ‘Shadow Defaults’ Because of This Lending Tactic
Private-credit firms used a loan option that defers interest payments in order to win competitive deals. WSJ’s AnnaMaria Andriotis explains why they’re now beginning to cut back on the option, known as payment in kind, or PIK. #wsj #thewallstreetjournal #finance
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