Debtwire Middle-Market – 2/22/2021

LIBOR floors shift lower in borrower friendly market


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Source: Debtwire Par

The percentage of loans issued with a 1% LIBOR floor or greater has continued to decline, driven in no small part by the wave of repricings hitting the loan market this year – loan repricings have made up a whopping 49% of the USD 165.3bn institutional issuance year-to-date. Amid the deluge of repricings, many borrowers have sought to reduce their LIBOR floors, a reversal from last year when LIBOR floor levels climbed in conjunction with the plunge in three-month LIBOR figures