between these vehicles and lead banks. CLOs that have a relationship with the lead bank of the renegotiated loan are strong … fund not only their portion of the loan increase, but also the portion that was supposed to be funded by the lead bank. Our … findings highlight the previously unrecognized role of the growing presence of non-bank lenders in corporate lending. …

attempt to decrease their exposure to rollover risk. These banks shorten both the maturity of their portfolio of loans as well …