A roughly $2 billion leveraged loan for First Brands tumbled after a news report about Apollo taking on a credit default swap position that will pay off if the auto parts and equipment manufacturer fails to pay its debt https://t.co/PHDa6Nhj2C ...

Funding & Market Dynamics - IntraFi, a financial technology firm, raised over $2 billion in the leveraged loan market [1] - Wall Street banks achieved a victory against private credit firms in this deal [1]

Market Trends - US leveraged-loan issuance surged in July as borrowers with junk ratings heavily utilized the market to reprice debt [1] Financial Impact - Companies are projected to save millions in interest expenses through debt repricing [1]

Financial Restructuring - KnowBe4, owned by Vista Equity Partners, is refinancing approximately $146 billion (146,000 million) of private debt [1] - The refinancing is occurring through the leveraged-loan market, aiming to reduce borrowing costs [1] Company Overview - KnowBe4 is an internet security platform [1]

M&A Deals - Private equity firms are reducing the involvement of leveraged loan bankers in M&A deals [1] - This shift impacts the lucrative fees traditionally earned by leveraged loan bankers [1]

Market Activity - US leveraged-loan market experienced its busiest day since January due to companies rushing to tap into it for debt [1]