Middle Market Debt Weekly: Fed Minutes Point to a December Hike
The week’s defining secured-lending story was the structure of Leslie’s, Inc.’s $225 million debtor-in-possession asset-based revolver, approved on an interim basis on October 1 at Term SOFR plus 325 basis points with a creeping roll-up of the prepetition ABL, while the term lenders behind the case extracted SOFR plus 650 basis points...
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