Lloyds Bank and Oaktree Capital Management have partnered to support UK middle-market sponsor-backed borrowers. The two companies are planning to deploy up to £1bn over the next few years in loans of up to £175m.
Lloyds Bank’s structured debt finance team will partner with Oaktree’s European private debt platform to provide clients with a senior debt solution for new buyouts and refinancings with term debt, acquisition and working capital facilities in addition to agency and full ancillary product services.
The new partnership, which will seek to originate loans to UK middle-market sponsor-backed companies with £10m to £75m in EBITDA, will offer “market-leading relationship banking”, according to a press statement, providing clients with a “faster, more tailored service”.
Oaktree’s European private debt platform, which sits within the firm’s performing credit group, has so far deployed over $3.9bn.
PwC, Lloyds Bank Corporate Markets and Linklaters advised Lloyds Bank, while White & Case and EY advised Oaktree.
