Debt Underwriting

Piper Sandler Finance, LLC ("Piper Sandler Finance"), a wholly owned lending subsidiary of Piper Sandler Companies, has been backed with $1.0 billion of equity commitments.

We primarily deploy middle-market loans between $75 million and $350 million with larger loans considered selectively.

Lending Criteria

• Company is headquartered in North America
• EBITDA of $15 to $100 million+, with the ability to underwrite smaller / negative EBITDA in unique situations (such as SAAS / Software companies)
• Leverage of up to 6.5x, with the ability to leverage above 6.0x selectively
• Focused on underwriting coupons of L + 600-900 bps
• Focus on first lien and stretch unitranche, with the ability to selectively underwrite second lien and mezzanine loans
• Sponsor and non-sponsor financings
• All use of proceeds including financing acquisitions, refinancings, dividend recapitalizations, staple financings and for general corporate purposes

Piper Sandler Finance, LLC is a wholly owned financial lending subsidiary of Piper Sandler Companies, and affiliate of Piper Sandler & Co., an SEC registered broker/dealer. All securities products and services are offered through Piper Sandler & Co., member NYSE and SIPC.