Leveraged Loan Insight & Analysis – 5/25/2020

Primary yields in the US institutional loan market tighten in May

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After spiking in April, primary US institutional yields have tightened in May, but remain at very high levels. The average yield, assuming a three-year term to repayment on first-lien institutional term loans is 8.15% in May, down from 9.45% in April. That month, issuers that tapped the market were mainly seeking emergency funding.