Versana says its Loan Voting platform is now live. The digital offering has earned support from top banks, including JPMorgan, Morgan Stanley, and Bank of America.
The loan voting platform is designed to facilitate efficient amendments for broadly syndicated loan (BSL) and private credit markets. The goal is to serve the $9 trillion loan asset class largely driven by refinancings, repricings, maturity extensions, or restructurings.
Cynthia Sachs, founding CEO of Versana, says growth in loan issuance and the number of buy-side lenders have driven amendment volumes up dramatically, while infrastructure has fallen behind.
“We are transforming loan voting execution by enabling control, transparency and speed for agents while delivering greater position accuracy, visibility and confidence for lenders.”
Via Versana Loan Voting, lenders may receive automated reminders for faster response times, and asset managers can seamlessly add new funds and digitally submit votes.
Joseph Ferraiolo, Head of Debt Capital Markets Operations & Merchant Bank Policy at JP Morgan, says the tech will help them move faster for borrowers.
Versana says the new release arrives at a time of growing momentum for the firm as it recently integrated Barclays’ agented BSL deals and raised $43 million.