Leveraged borrowers continue to tap lenders for refinancings: BMC Software among largest credits to return
In the absence of meaningful new money loans calendar, a steady stream of refinancings have kept arrangers of leveraged loans busy in the first 6 months of 2024. Year to date, less than US$105bn of completed leveraged loan volume represented new loan assets. The total represents roughly 12% of closed issuance to date. Against this backdrop a flurry of jumbo refinancings for issuers including Medline Industries, Citrix Systems and UKG Inc have all opportunistically returned to the market. The most recent addition is BMC Software, which similar to McAfee LLC returned to market with a US dollar and Euro denominated credit which represents one of the five largest leveraged refinancings so far this year.
Latest news
Q2 European direct lending activity up 9%
Despite the geopolitical and macroeconomic events of the first half of the year creating a volatile environment, the European private credit market continues to demonstrate robust resilience.
Share of PE middle-market fund count by size bucket
Sector composition tilted hard toward B2B in Q1. B2B accounted for 52.9% of middle-market exit value, up from 38.2% in full-year 2025…
US Leveraged Loans return 1.88% to investors YTD
The Bloomberg US Leveraged Loan Index (Ticker: LOAN) has returned 0.57% to investors this month through July 15, bringing the…