REUTERS reports:
Wall Street banks are raising billions of dollars to regain ground in lending to companies in debt-backed deals after giant private equity and asset management firms muscled in on the business over the last two years.
U.S. banks reduced lending to lower-quality corporate borrowers in 2022 as the Federal Reserve aggressively raised interest rates. Rising borrowing costs also derailed deal markets, particularly for transactions underpinned by high levels of debt.
Credit …
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