Debtwire Middle-Market – 2/24/2020

Secondary loan market softens
in face of coronavirus fears


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Source: Debtwire Par, Markit

With fears around the spread of the coronavirus growing, loan investors are faced with the decision to reduce risk or buy the recent dip in the secondary market. After several months defined by repricings, tightening spreads, and elevated secondary market pricing, the weighted average bid hit a recent high at 96.46 with a par plus share in the 55% area in mid-January.