The average primary market yield, assuming a three-year term to repayment on first-lien institutional term loan Bs, has widened to 8.09% so far in March, driven by higher pricing across single-B rated credits. A mix of widening spreads and OIDs have pushed yields up in the current month. Looking at pricing by rating, single‑B credits are up 254 bps to 9.63% on average this month, while double‑B credits are at 5.79%, down 21 bps, leaving overall yields at their highest level since April 2025.
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Information technology topped nonaccruals on a cost basis
Maturities of loans switching to at least partial PIK tends to be longer-dated than Octus’ other stress trackers: nonaccrual and fair value write-down reports.
US Broadly Syndicated Loan CLO Defaults in 3Q26 Driven by Distressed Debt Exchanges
Out of court restructurings drove nearly all default activity within Fitch-rated U.S. broadly syndicated loan (BSL) CLO portfolios in 3Q26, Fitch Ratings says.