Source: KBRA DLD, by volume. The Direct Lending Index comprises $300 billion (3,100 borrowers); the LMM Index includes $21 billion (more than 850 borrowers). Shifts to PIK and covenant violations are excluded. The non-accruals direct lending and lower middle market rates are at 1.8% and 1.7%, respectively. The KBRA DLD Leveraged Loan Index represents $1.6 trillion in outstanding volume, and the KBRA DLD High Yield Index totals over $1.3 trillion in outstanding volume.
(Past performance is no guarantee of future results.)
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