Lofty yields — 12%— and little supply to pressure unitranche spreads

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Unitranche yields in the KBRA DLD Private Data portfolio averaged 12% for the 90-day period ended Jan. 31, up from 6.6% a year ago. The current reading is the highest in our two-year, $270 billion library and potentially the highest since the GCC. The underlying spread averaged S+643 for the 90-day period ended Jan. 31, marking a sixth consecutive month of increases and resetting the two-year high from December’s S+642.