As rates climbed, repricings slowed. 2023’s volume jumped to $81.3 billion from only $10 billion the year before – a far cry from 2021’s $240 billion, per PitchBook. Today less than 10% of all leveraged loans represent net new issuance, the lowest level since the GFC. Overall refinancings – amendments, extensions, acquisitions – were the bulk of deals coming to the BSL market…

(Any “forward-looking” information may include, among other things, projections, forecasts, estimates of market returns, and proposed or expected portfolio composition Past performance is no guarantee of future results. Investing involves risk; principal loss is possible.)

▶︎ Read February 5th 2024 Newsletter: here