Alexopoulos: With attractive spaces, there are new entrants and there's a lot of excitement and attention in the space.
We have more competition than we've had in recent times. So we've had more folks entering the space, and the M&A market is still relatively anemic based on historical norms. So, I think you kind of have a loan supply, demand issue, and there's been a little bit of spread tightening in our market in the last few months. And that's purely a function of too much demand going after too little supply.
I know sponsors have a lot of concern over the election year. There could be a rise in volatility or a challenge to get their deals financed. Where they can, they're looking to amend and extend any facilities just because they want to take the uncertainty off the table. |