Posts by LSEG
U.S. new issue CLOs reached US$117bn in 2017 with an additional US$165bn in CLO refis and resets
Although loan fund outflows have been more frequent since the fall, US$12.7bn flowed into mutual funds in 2017. Separate managed…
Read MoreMiddle market loan issuance jumps 23% in 2017 to $170B
Middle market lending heated up in 2017 and is poised to remain even hotter in 2018. Issuance hit $170 billion…
Read More2017 US Syndicated loan volume tops US$2.5Tr to set new record
Despite the din of geopolitical noise in the background, 2017 was a remarkably steady year in the loan market, punctuated…
Read MoreFlex activity swings back in favor of issuers this week
So far this week, flex activity has swung back in favor of issuers after investors pushed back on several deals…
Read MoreYields widen slightly for new money deals; tighten for refis
Average yields for first-lien institutional term loans have tightened slightly so far in 4Q17, after having ticked up in the…
Read MoreMiddle Market LBO issuance hits post credit crisis high at $24B
Despite lenders complaining of a supply demand imbalance for most of the year, middle market LBO issuance is actually quite…
Read MorePrimary leveraged yields tighten slightly so far in 4Q17
Yields have declined slightly in 4Q17 despite an increase in the Libor component. The average yield, assuming a three-year term…
Read MorePrimary leveraged yields are almost flat in 4Q17
Average primary yields on first-lien institutional term loans have been relatively flat so far in 4Q17. At 5.11%, the average…
Read MoreInvestors have increasingly warmed to riskier issuers since 2016
Since the second half of 2016, investors have increasingly gotten more comfortable with riskier names. According to the Flex Factor,…
Read MoreMany BDCs still struggling to trade at book value and higher
Investors are getting ready to parse through a slew of BDCs earnings, which will be released this week. Last quarter,…
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