The Globe and Mail reports in its Tuesday edition that chief financial officers are experiencing sticker shock as they tap credit markets for the first time since central banks began raising interest rates last year. The Globe's Andrew Willis writes that it is still possible to borrow, but lending costs have more than doubled. At the end of April, Bank of Canada data show business borrowers paid an average of 6.53-per-cent interest on their loans, up from just 2.96 per cent a year ago. Corporate borrowers are now struggling to raise money. "Capital has become increasingly scarce and relatively more expensive versus the lows of the past couple of years, leaving asset owners with fewer options to refinance debt maturities or fund growth," Brookfield Asset boss Bruce Flatt said in a recent shareholder letter. Already a significant player in private credit markets, with $140-billion (U.S.) invested in the sector, Brookfield recently launched a direct-lending strategy targeted at private equity-owned companies that need loans of $500-million (U.S.) or more. Mr. Flatt said there is an opportunity in this sector, "given both banks' reduction of appetite for this form of financing and the scarcity of non-bank lenders."