The Rising Risks In “Private Credit” Lending Bonanza | Andrzej Skiba [Video]

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Timestamps:
00:00 Introduction
00:50 What Is Private Credit?
07:51 Private Credit Is Doing The Riskiest Deals In Leveraged Finance
16:04 How Will Private Credit Perform If Defaults Pick-Up? (Very Little Data In Previous Cycles Because The Asset Class Has Grown So Much)
19:24 Private Credit Is Very Illiquid
20:54 Debt Covenants In Private Credit Are, Admittedly, Usually Very Strong
26:31 VanEck Ad
27:14 Interplay Between Private Credit and Rest of Fixed Income Universe
32:35 Private Equity Is Using Private Credit To Pay Itself Via Dividend Recaps
35:13 Private Credit Is Refinancing Some Of The Riskiest Deals In Leveraged Loan Market, Which Perhaps May Be Bullish For Leveraged Loan (& High-Yield Bond) Market
38:00 Default Outlook In High-Yield Bond And Leveraged Loan Market
43:09 Moderately Bullish View On Duration (I.e. Rates)
58:43 Maturity Wall High-Yield Bond Is Very, Very Termed Out
01:02:56 Opportunities In Securitized Products Market Appear Interesting
01:04:57 Single Borrower Commercial Real Estate Loan Market Offers Interesting Opportunities To Fundamental Credit Investors
01:07:48 Most Common Investing Mistake In Credit: Herd Mentality

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Disclaimer: Nothing discussed on Forward Guidance should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.