Q1 US Leveraged Loan Issuance Poised for Sharp Year-Over-Year Decline

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US leveraged loan issuance has slowed significantly in the first quarter of 2026. Through March 25, monthly issuance totaled just $22.35b, bringing the year-to-date total to $217.15 billion for Q1. This represents a 37% year-over-year decline, while March issuance is down 61% compared to the same period last year.