Leveraged Loan Insight & Analysis – 5/4/2015

LSEG (1)
Content hub / Article / LSEG / Leveraged Loan Insight & Analysis – 5/4/2015

The average yield on first-lien institutional loans is in the 5.18 percent context so far in 2Q15, down from 5.78 percent in 1Q15. After widening above the 6 percent threshold in 4Q14, yields have declined this quarter as demand continues to outstrip supply in the leveraged loan market. The tightening has been across the risk spectrum. Yields for B-rated issuers are 5.32 percent on average this quarter, down from 5.89 percent in 1Q15, and more than 100bp lower than their 4Q14 levels. May 4 2015 TRFor higher rated BB borrowers, yields are currently at an average of 3.79 percent, down from the 4.56 percent average recorded in 1Q15. With yields coming down, repricings have made a comeback and many issuers are taking advantage to cut their costs. Ranpak Corp., Smart & Final, Grocery Outlet, PetSmart and Zayo are recent additions to the latest repricing wave. Investor demand has been so strong, that some issuers are even willing to pay the 101 call premium.

Contact: Diana Diquez
diana.diquez@thomsonreuters.com
Contact Diana Diquez
Private Debt Investor New York Forum

September 15-16, Hudson Yards, New York

Private Debt Investor New York Forum

Bringing together the investors, managers and advisers shaping the next phase of the market — 200+ allocators and $10.6 trillion of LP capital expected. Benchmark strategies, hear from leading LPs, and cut through market noise over two unmissable days.
Learn more
US Private Credit League Tables H1'26

Report

US Private Credit League Tables H1'26

The definitive rankings covering private credit activity in H1'26.
Download
PitchBook's Q2 2026 US PE Breakdown

Report

PitchBook's Q2 2026 US PE Breakdown

Software freezes and energy powers on as US PE deal value falls 38% in Q2 2026.
Download
Making sense of private credit defaults

Webinar

Making sense of private credit defaults

What does private credit default data really tell us? Join our exclusive webinar featuring experts from KBRA, Moody's, Fitch Ratings, and S&P Global to find out.
Register

Latest news

    Q2'26 BDC analysis shows additional 184 bps of nonaccruals at cost

    In a universe of 173 business development companies, or BDCs, Octus identified a total of $9.5 billion of debt (at cost) in nonaccrual status reported in the second quarter of 2026, a slight decline of 5% from $10 billion in the first quarter of 2026.

    Read More

    Reading the Board

    The story changes depending on which numbers you’re counting.

    Read More

    Private Credit Defaults 101: Different Numbers, Different Stories

    In Season 2 of Billions, Bobby Axelrod takes his lawyer Orrin Bach to an empty Yonkers racetrack in the dead of night.

    Read More