LBO loan issuance lags in 1Q21
Source: Debtwire Par
It has been a busy start to the year in the leveraged loan market, though not when it comes to loans backing LBO activity.
New money loan transactions, and LBOs in particular, have struggled to keep up with demand from lenders, prompting a surge in institutional loan repricing activity to USD 107bn and refinancings to USD 72.5bn, as borrowers have capitalized on the supply-demand imbalance to opportunistically cut pricing on their loans and extend maturities.