Syndicated MM sponsored lending volume
reached $13.6bn in 2Q19

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Syndicated middle market sponsored lending volume improved somewhat in the second quarter, but not nearly enough to match 2017-2018 levels. Issuance grew 10% quarter over quarter to US$13.61bn in 2Q19, but was still over 40% lower than 2Q18 levels. The lack of refinancing actvity was the biggest driver of lower volumes as refinancing issuance of US$2.9bn hit the lowest quarterly level tracked since 1Q16.