Cracks begin to show in primary market amid tight pricing The average all-in spread for 1st lien leveraged loans for the 3-month period ending in January was 313 bps, down 23 bps or 6.9% from the previous period, and marked the tightest spread on record since Bloomberg began tracking the data in 2013. So far…
US Leveraged Loan Launches Taper from January Highs Leveraged loan launches have slowed from the record-breaking pace set in January when approximately $204.8b was brought to market for an all-time high. Through February 19th, $72.7b worth of deals have been marketed to investors, marking a significant slowdown month-over month. While February launches have struggled to…
January Marks 20th Consecutive Positive Monthly Return for US Loan Index The Bloomberg US Leveraged Loan Index (Ticker: LOAN), a measure of the US institutional, broadly syndicated, leveraged loan market, returned 0.67% in January following a year in 2024 that saw loan investors rewarded with 8.77% gains. In fact, it was the 20th consecutive positive…
Record Month of January Sets Pace for a Busy 2025 January’s $186b of US institutional leveraged loan issuance was up $45.7b for an increase of 32.6% from the same month a year ago, making it the busiest January on record since Bloomberg began tracking the data in 2013. It amounted to the second busiest month…
2025 Kicks off with Record Wave of Leveraged Loan Launches At approximately $199.4b through January 29th, the new year has picked up right where 2024 left off in terms of record levels of US institutional leveraged loan launches. That amounts to a new record after surpassing December 2024’s $187.9b, as issuers have continued to pile…
Top Bookrunners Drive 2024 US Leveraged Loan Volume Amid record issuance in the leveraged loan market in 2024, where institutional issuance exceeded $1.33t, Bank of America was the most active bookrunner, participating in 953 US leveraged loan deals with an annual credited bookrunner volume of over $172b. Following BofA was JP Morgan at $167b across…
US Leveraged Loan Pricings Smashed Records in 2024 2024 was the year of the leveraged loan, with issuers piling into the market at record levels to reprice debt amid historically high interest rates and an attractive value proposition for investors…. Subscribe to Read MoreAlready a member? Log in here...