Leveraged Loan Insight & Analysis – 11/11/2024

Resilient secondary loans, light primary calendar carry repricing trade through October

Chart

The share of institutional term loans trading above par averaged 33% in October, advancing atop 31% in August and 32% in September. And secondary loans have traded nowhere but up through the first two weeks of November, with par-plus loans now accounting for 43% of the secondary market, a level not sustained since July.