Oil & gas names drop on lower oil prices, secondary loan market softens
Source: Debtwire Par, Markit
Oil and gas loans have moved lower recently in tandem with the sharp decline in oil prices and the softening of the broader loan market. While the average bid on oil and gas term loans is up by over 7 points this year, it has slipped back by nearly 1.70 points so far in November to 94.82. At the upper end of the price spectrum, the share of oil and gas loans bid in the par-plus area has dropped to 17% from the recent high of 43% on October 23.