Avg. bid on Refinitiv’s BDC Visible Loans Benchmark remains at the 80 context

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Loans held by business development companies with mark-to-market pricing have stabilized in the 80 context in the last few days. Refinitiv’s BDC Visible Loans Benchmark provides investors with a daily mark on roughly US$20bn in first and second lien loans held by BDCs. After being in the 93-94 context for most of 2019, the average bid on loans held by BDCs plummetted to a low of 76 in late March, but has since moved up slightly and stabilized at around 80.