The pandemic docked Carnival’s cruise ships and grounded Bombardier’s planes. But when the companies were in need of cash, one went to the bond market and the other to a direct lender. Robert Smith, FT capital market correspondent and Nikou Asgari, FT corporate finance reporter, tell the story of the billion dollar private debt deals shaping who has the capital to weather the crisis. 

Review Clips: CNBC, Reuters, ABC News

Read more from Nikou, Rob and the rest of the corporate finance team

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Asset managers in $300bn drive to build private lending funds

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