Lending & Secured Finance 2025: Private Credit and Middle Market Update: Developments and Trends

O’Melveny partners Ike Chidi, Glen Lim, Jeff Norton, and Jennifer Taylor co-authored “2025 Private Credit and Middle Market Update: Developments and Trends,” an Expert Analysis chapter within ICLG’s Lending & Secured Finance 2025, 13th Edition.

The authors note that despite the economic and political risk factors that are creating uncertainty in the deal market, “deals will continue to get done in 2025, and we can expect increasing convergence and consolidation of terms, structures, and lenders among the private credit and bank markets, as well as ever-evolving terms for leveraged credits generally.”

Chidi counsels clients on commercial lending matters, primarily in the private equity sector. He represents lending institutions, private equity firms, and both public and private companies in structuring and negotiating financing transactions.

Lim represents direct lenders, banks, and other lending institutions as well as private equity firms and operating companies in financings of mergers and acquisitions, debtor-in-possession and exit financings, first and second lien financings, and working capital and asset-based financings.

Norton, Chair of O’Melveny’s Corporate Finance Practice, guides clients through complex public and private finance matters, including leveraged credits, bonds, direct lending, structured finance, restructurings, and special situations, with extensive experience in the US, UK, European, Asian, and Latin American markets.

Taylor has deep experience negotiating debt financing transactions of all varieties, including financings for leveraged buyouts, asset based facilities, secured and unsecured working capital facilities, venture debt loans, and other structured financings, including mezzanine loans, high yield, and DIP financing for debtors in bankruptcy.

Associate James Midkiff provided invaluable assistance in preparing the chapter.