That 4.75% pricing is interesting - Apollo's got a leg up because they own an insurance company, so their cost of capital is lower. Silver Point and Oak Hill don't have that same advantage.
Warrants are very rare in plain vanilla private credit, unless the deal is super hairy and no one wants to finance it (even then I can’t recall seeing much outside of deals in venture debt). So, I doubt it, but you never know.
That 4.75% pricing is interesting - Apollo's got a leg up because they own an insurance company, so their cost of capital is lower. Silver Point and Oak Hill don't have that same advantage.
Curious as to if there are other bells and whistles involved like warrant coverage, a drawing mechanism, etc
Warrants are very rare in plain vanilla private credit, unless the deal is super hairy and no one wants to finance it (even then I can’t recall seeing much outside of deals in venture debt). So, I doubt it, but you never know.
Makes sense - all stuffed into discourse also framed as “private credit” makes it less easy to tell, but the profile here gives it away