Global ESG-linked institutional loan volume sets steady pace in 2021 In a testament to the broadening reach of Sustainability linked lending, the global loan market has been tapped with over US$22bn of ESG-linked institutional loan volume via 21 issues so far this year, up from a small handful during all of 2020. In fact, after…
US syndicated middle market activity picks up the pace in 2Q21 At over US$26bn through May 19, US syndicated middle market volume is just US$3bn shy of 1Q21’s full quarter level. The big difference maker has been sponsored middle market volume, which totals US$10.6bn in completed volume this quarter, already besting 1Q21’s US$9.8bn level. LBO activity…
M&A loan volume kicks up in 2Q; WarnerMedia/Discovery provides further boost Both high grade and leveraged loan arranger alluded to the flurry of M&A discussions that had kicked up at the end of 1Q21 and their hopes for a steady pipeline of deals into 2Q. Barely six weeks into the second quarter, nearly US$80bn in…
US$93.8bn of CLO issuance priced and closed in 2021 to date In another indication of robust leveraged loan market activity in 2Q, the CLO calendar continues to grow at a record pace. There has been US$148.4bn of US CLO volume recorded so far in 2021, split between US$54.6bn of new issues, US$53.3bn of refinancings and…
More deals get done with a Libor floor in April There has been a shift in the institutional market in April as more new money loans hit the market. In 1Q21, limited supply led to issuer friendly terms and low pricing. Downward price flexes dominated in 1Q21, and issuers took advantage to reprice their loans….
Robust loan fund flows in April top US$4bn Loan mutual funds recorded US$1.06bn in inflows last week, its third consecutive week of US$1bn+ inflows and 15th consecutive week of positive flows, according to data from Refinitiv Lipper. April’s results follow 1Q21 volume of US$14.074bn, the highest quarterly total since 3Q13…. Subscribe to Read MoreAlready a
1Q21 US sponsored loan volume third highest on record Private equity sponsors returned to the loan market in 1Q21 to clear US$196.5bn through retail syndication, the highest quarterly total since 2Q18 and the third highest on record. At US$128bn refinancings represented 65% of the 1Q21 sponsored loan calendar as issuers tapped lenders for repricings and…
CLO AUM ends 1Q21 at US$765bn, up 4.7% QoQ Driven by robust activity in the US CLO market, CLO AUM ended 1Q21 at US$765bn, up 4.7% quarter over quarter. March 2021 represented the sixth consecutive month of increasing AUM. CLO new issue volume had its fastest start to the year on record, closing 77 new…
1Q21 leveraged issuance marks four year high at US$474bn; 1Q21 HY bond volume sets new record Building on the early signs of market recovery observed in 4Q20, issuers of leveraged debt took advantage of accommodative conditions to raise nearly US$474bn in loan and high yield bond volume in 1Q21 , the second highest quarterly total…
Secondary market levels continue to trend higher Prior to the pandemic, the average bid on the North America Overall-Market cohort of loans was in the 97.5 context, with half of loans bid between the 98-<100 level, bids above par made up a 35% share. At its lowest point last year, March 24, the Overall-Market average…