MM sponsored spreads not yet showing impact of leveraged loan volatility

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Whenever volatility and investor pushback strikes the leveraged loan market, it always takes time for those effects to move down into the less liquid middle market. The average bid on the 100 most liquid loans has been grinding down for most of November, hitting 97.5 this week down from 98.35 at the beginning of month. And this week several deals struggled in the leveraged loan market including Perimeter Solutions which pulled its repricing and Jason Inc. which postponed its amendment.