Over US$2bn of loans added to BDC non-accrual status in 2Q24. non-accrual rate ticks up Over US$2bn of BDC loans were added to non-accrual status in the most recent quarter. In turn, the weighted average non-accrual rate for public and private BDCs combined ticked up to 1.66% in 2Q24…. Subscribe to Read MoreAlready a member?
New money leveraged loans have a stronger showing in 3Q24 After a slow start to the year, leveraged issuers are increasingly tapping lenders for new and/or incremental loan capacity…. Subscribe to Read MoreAlready a member? Log in here...
Institutional loans calendar slows in August amid traditional summer holidays but ahead of year ago-levels At just under US$31bn, the US institutional loans calendar edged down modestly in early August (from US$34.4bn) as lender and issuer activity slowed ahead of the peak summer holidays…. Subscribe to Read MoreAlready a member? Log in here...
Retail loan funds inflows climbed to US$2.7bn in July, taking YTD total to US$14.1bn Retail loan funds last week posted their first outflow in 6 weeks, with US$91m exiting…. Subscribe to Read MoreAlready a member? Log in here...
Middle Market Survey – Were you able to lend as much as you wanted to in 2Q24? Even though middle market loan volume increased by 27% to US$67.2bn in 2Q24, many middle market lenders found sufficient opportunities hard to come by in the most recent quarter, according to LSEG LPC’s 3Q24 Middle Market Outlook Survey….
Premium for MM direct lending loan yields over large corporate credits averaged 265bp in 2Q24 Pricing tightened across all market segments in 2Q23 as demand for assets outpaced supply. This enabled borrowers to obtain more attractive pricing on new credits and refinance existing debt…. Subscribe to Read MoreAlready a member? Log in here...
1H24 New-issue CLO volume sets new record for first six months at over US$99.5bn Over US$99.5bn of new US CLO issuance has been completed through the end of June 2024, an increase of over 77% compared to the same time last year and a 23% gain compared to the prior record half year total of…
1H24 Sponsored loan volume tops US$400bn, exceeding full year 2023 results PE sponsors tapped the loan market for a record US$227bn in 2Q24, pushing sponsored issuance for the first six months of the year to over US$400bn…. Subscribe to Read MoreAlready a member? Log in here...
Leveraged loan and HY bond volume surge in 2Q24 amid refinancing activity Leveraged issuers raised over US$484bn via the loan and high yield bond markets in 2Q24, the strongest quarterly results since 1Q21…. Subscribe to Read MoreAlready a member? Log in here...
Leveraged borrowers continue to tap lenders for refinancings: BMC Software among largest credits to return In the absence of meaningful new money loans calendar, a steady stream of refinancings have kept arrangers of leveraged loans busy in the first 6 months of 2024…. Subscribe to Read MoreAlready a member? Log in here...