Simple, but is it safe?

Stretched senior is a relatively new and potentially risky form of unitranche debt, maintains John Bakie

Stretched senior (or senior stretch) is a term that is becoming increasingly common as private debt fund managers look to diversify their product range with innovative finance solutions

A typical senior debt loan is normally constrained in the amount it can lend, either vs EBITDA for corporate lending or loan-to-value (LTV) for real estate lending.

Share this