Issuance Cools from July High but Sets Record for August

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Following a robust July that saw $200b of institutional leveraged loans price, issuance cooled somewhat in August. At $79.5b across 68 deals, issuance receded 60% from the July high but remained elevated for what is typically a quieter month in the leverage loan market. In fact, it marked the busiest month of August on record since Bloomberg began tracking the data in 2013, surpassing the previous high of $64.7 billion set in August 2017.