Back to the Future: Opportunities Are Ripe for Second Lien Lenders in 2013

An upswing in competition for high-quality transaction opportunities this year led to increasing demand for yield as banks and high-yield bond investors were more aggressive in extending capital to large borrowers. Gordon Brothers’ Patrick Dalton says that in 2013, second lien lenders that understand downside risk and continue their sharp credit skills will find areas of opportunity.