Feb 19 (Reuters) – Bank of America is committing $25 billion to private credit deals, according to an internal memo seen by Reuters. Traditional banks such as BofA have been competing with private credit supplied by alternative asset managers. Private credit has become a key financing source for corporate America as tighter post‑crisis lending standards […]
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BofA commits $25 billion to private credit deals, memo shows
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Feb 19 (Reuters) – Bank of America is committing $25 billion to private credit deals, according to an internal memo seen by Reuters.
Traditional banks such as BofA have been competing with private credit supplied by alternative asset managers. Private credit has become a key financing source for corporate America as tighter post‑crisis lending standards pushed borrowers to seek capital outside traditional banks.
BofA’s move underscores a broader push from Wall Street giants, including rival JPMorgan Chase, to compete with private credit providers who often face lighter capital and regulatory requirements.
(Reporting by Ateev Bhandari in Bengaluru; Editing by Maju Samuel)