Debt Capital Markets Review Autumn 2023

Given the 425% increase in the Bank of England’s base rate since May 2022 and the increase in funding pricing spreads, the UK is now firmly a ‘lenders market’.

Financial Institutions are now dictating the terms, scrutinising covenant headroom, challenging sensitivity scenarios and focusing on EBITDA ‘add-backs’.

However, lenders do remain ‘open’ for well prepared borrowers.

With the UK Private Credit market sitting on £47.2bn of ‘dry-powder’ which it’s actively seeking to deploy, well prepared businesses still have sufficient opportunity to fundraise for their growth plans.

Leveraging the expertise of a knowledgeable debt adviser to support a quality proposal, with deep contacts in the lending community, is key to achieving a successful fundraise in this dynamic market.

To read the full report, click here

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