Private Credit and Leveraged Loan Markets: Similarities, Differences, and Substitution

Ayelen Banegas, Sophia Castelo, Ahmet Degerli (), Christine L. Dobridge and Will Kennedy
Additional contact information
Ayelen Banegas: https://www.federalreserve.gov/econres/ayelen-banegas.htm
Ahmet Degerli: https://www.federalreserve.gov/econres/ahmet-degerli.htm
Christine L. Dobridge: https://www.federalreserve.gov/econres/christine-l-dobridge.htm

No 2026-08-11, FEDS Notes from Board of Governors of the Federal Reserve System (U.S.)

Abstract: Private credit (PC) and leveraged loan (LL) markets are two key sources of financing for below-investment-grade middle-market firms, typically those with revenues between $10 million and $1 billion). Although these two markets have different structures and rely on different lenders, they have become increasingly interconnected in recent years, with some firms seeking financing in both markets.

Date: 2026-08-11
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.federalreserve.gov/econres/notes/feds- ... tution-20260811.html Full text (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:fip:fedgfn:103644

DOI: 10.17016/2380-7172.4133

Access Statistics for this paper

More papers in FEDS Notes from Board of Governors of the Federal Reserve System (U.S.) Contact information at EDIRC.
Bibliographic data for series maintained by Ryan Wolfslayer ; Keisha Fournillier ().