PE sponsors ramp up delay draw term loans
in the U.S. middle market

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Over the last few years, sponsors have been ramping up the amount of delay draw term loans within their middle market M&A transactions. In 2Q19, LPC tracked US$3.1bn in delay draw term loan volume within middle market sponsored finance which is the second highest quarter tracked by LPC behind the US$3.3bn tracked in 2Q18.