Chart of the Week: No Floors
With Libor higher than the historic 1% leveraged loan floor, the rationale for that rate subsidy is going away.
With Libor higher than the historic 1% leveraged loan floor, the rationale for that rate subsidy is going away.
June saw the highest number of upward price flexes in the overall leveraged loan market in the past twelve months.
Sponsored loan activity in the middle market is running at a faster pace than last year; on pace for best year since 2007.
M&A loan volume for the current quarter is on par with last quarter’s activity; share of buyouts down from a year ago.
M&A loan volume for the current quarter is on par with last quarter’s activity; share of buyouts down from a year ago.
For the first time since 2008 the universe of leveraged loans has exceeded that of high-yield bonds.
Unlike prior recessions, leading economic indicators signal this cycle will continue a bit longer.
According to a recent WSJ survey of 50 economists, the recovery cycle will likely continue for another two years.
There’s a way to go before rates reach the levels attained just before the credit crisis.
The universe of institutional leverage loans topped $1 trillion for the first time; approaching $1.5 trillion of HY bonds.