Private credit glossary · Data updated Oct 27, 2026
What is a unitranche loan?
A unitranche loan blends senior and subordinated debt into a single facility with one blended interest rate, giving a borrower one lender, one set of documents, and a faster close than a two-layer structure.
328
active Unitranche funds in this site's database
$10M–$60M
median confirmed check size, from 65 source-confirmed ranges
How it works
- One facility replaces the traditional senior + mezzanine split; the lender internally prices the blended risk.
- A single blended rate sits between pure senior and mezz pricing.
- Simpler docs and intercreditor terms mean faster closes — a main reason middle-market borrowers pick it.
When borrowers use it
- Middle-market buyouts and acquisitions where speed and certainty matter.
- Borrowers who want one relationship instead of negotiating an intercreditor agreement.
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