Leveraged transactions are almost impossible amid a bank market that has tightened its lending standards and reduced cash flow for senior debt by over three times of what it offered one year ago. For a public company considering a transition to the private market, funding its shareholder takeover may mean exploring alternative markets.

For those at the forefront of this movement one consideration takes them to the private credit tenant lease (CTL) market, where long-term lending standards and healthy appetite might equate to a viable road for retail "go-privates" - public companies looking to become private entities. Yet, the path may not be as easy in a market that has recently turned retail-wary and requires the best of the crop before an investor lends under the long-term maturities.

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