between these vehicles and lead banks. CLOs that have a relationship with the lead bank of the renegotiated loan are strong … fund not only their portion of the loan increase, but also the portion that was supposed to be funded by the lead bank. Our … findings highlight the previously unrecognized role of the growing presence of non-bank lenders in corporate lending. …

of bank regulatory capital. Our results show that following Basel I, undrawn fees and all-in-drawn credit spreads on …

decline in loan maturity is bank driven. In line with this premise, we find that the slope of the loan yield curve becomes …

informationally opaque and the lead bank retains a small loan share, suggesting some substitutability between participants' lending … experience and the lead bank's loan share. Another implication of our findings, which we confirm, is that participant banks do … not lend farther away from them to diversify risk beyond geographic diversification …

more lax lending policies than banks, we unveil important evidence that nonbanks increased bank borrowing following the …