Publication of the Aether FS' Unitranche France Index for the 2nd Quarter 2023

In the second quarter of 2023, the Aether FS Unitranche France Index, published by Aether Financial Services (Aether FS), remained stable compared to the first quarter, with a margin per leveraged round of 1.43%. The number of M&A transactions in France, however, continued to decline in Q2. Furthermore, issuers are increasingly exercising their "Toggle" clause.

The Aether FS Unitranche France Index is a benchmark for market conditions in the Private Equity sector and allows the cost per leveraged round (excluding base rate) to be evaluated in unitranche operations in France.