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Legacy Private Credit Loans Face Refinancing Risks as Rates Rise

Bloomberg Markets Thursday 08 October 2026, 08:32 UTC By Megawati Wijaya 1 min read
Key Points

Legacy Private Credit Loans Face Refinancing Risks as Rates Rise Private credit borrowers that loaded up on debt when interest rates were low could face refinancing pressure as they approach maturity, according to investors speaking at a forum in Singapore on Thursday. Loans borrowed in 2021 and 2022 are particularly vulnerable to refinancing risks because they were underwritten at a time when base rates were close to zero, said Steve Kuppenheimer, partner and head of private investments at...

Legacy Private Credit Loans Face Refinancing Risks as Rates Rise Private credit borrowers that loaded up on debt when interest rates were low could face refinancing pressure as they approach maturity, according to investors speaking at a forum in Singapore on Thursday. Loans borrowed in 2021 and 2022 are particularly vulnerable to refinancing risks because they were underwritten at a time when base rates were close to zero, said Steve Kuppenheimer, partner and head of private investments at Lord, Abbett & Co. These older facilities could come under greater stress and face a higher risk of default as they approach maturity, he said on a panel at the Milken Asia Summit 2026.
Singapore (LOCATION) Steve Kuppenheimer (PERSON) Lord, Abbett & Co. (ORG) the Milken Asia Summit 2026 (LOCATION)
Originally published by Bloomberg Markets Read original →

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