Average secondary market prices on US Leveraged loans reached 96.44 on June 25th, the highest level since March 17th according to the Bloomberg US Leveraged Loan Index. So far in June, the index has returned 0.51%, bringing the year-to-date figure to 2.47%.
With prices gaining in the secondary, launches into the broadly syndicated market have reached $19.3b this week, the highest weekly total since the week ending June 8th saw $22.5b of new deals. One difference, however, is the share of repricings – accounting for $11.4b of this week’s launches repricings have made up 60% of deal flow, compared to just 20% earlier in the month.
Contact: Vincent Daigger
vdaigger@bloomberg.net
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