Private Credit Set to Beat Banks to €6.25 Billion Adevinta Deal

Private credit lenders are in advanced talks to strike a €6.25 billion ($6.8 billion) loan deal with online classifieds company Adevinta ASA, which would be among the largest of its kind, people with knowledge of the matter said.

If the deal goes ahead, it would represent a blow to banks who pitched to refinance the company’s debt. Though bank debt is usually cheaper, private credit funds are better able to execute loans in uncertain times.

The development underscores the impact that souring investor sentiment is having on broadly-syndicated markets, driven in part by uncertainty over the extent of US ...