Leveraged Loan Insight & Analysis – 4/23/2018

Unitranche volume dropped meaningfully in 1Q18

Thomson Reuters LPC’s newest unitranche league table provides insight into a very private, opaque market. After peaking at a robust $8.2B in 4Q17, unitranche volume fell off a dramatic 63% in 1Q18. What drove the fall off? Sponsors typically gravitate to the unitranche for ease of execution in M&A deals. But given that refinancings and repricings dominated volume in 1Q18,