Though alternative debt capital providers such as the credit arms of private equity firms, hedge funds and other investment vehicles do not have the balance sheet size or scale to compete with the likes of banks like JP Morgan or Bank of America Merrill Lynch, alternative lenders willing to increase their capacity to underwrite revolving credit facilities will have the biggest advantage when it comes to earning market share. While it is ultimately the term loan business, and associated fees, that alternative lenders are after, it is the shorter-dated revolvers that come due first that are likely

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