US LevFin issuance slips in February amid softer, more volatile market backdrop

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US LevFin issuance topped US$160bn in February, although business slipped 11% from January amid a noticeably weaker market backdrop. Bank loans came back following a somewhat slower month (US$50bn) and high-yield bonds matched January’s issuance (US$30bn), while institutional loans, which drive the majority of the overall business, fell 30% to US$82bn.