Lenders Offer Deeper Discounts to Clear Primary Market Transactions
Amid subdued deal flow and continued volatility in the secondary market, lenders have increasingly relied on deeper original issue discounts (OIDs) to successfully syndicate new leveraged loan transactions. In March, the OID (original issue discount) on US institutional leveraged loans jumped to an average of 140bps from 62bps the month prior, marking the deepest discount since April of last year.
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