Leveraged Loan Insight & Analysis – 12/19/2022

US institutional discounts widen, but remain at wide levels


After reaching levels not seen since the credit crisis in 3Q22, discounts on US first-lien institutional term loans have tightened this quarter. The average original issue discount (OID) is 96.07 so far in 4Q22, tighter than 3Q22’s average of 94.15, but still at historically wide levels.