2Q23 US middle market syndicated lending
dropped 53% year-over-year

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US middle market syndicated loan volume reached US$27.8bn in 2Q23, down 53% from 2Q22 and 7% quarter-over-quarter. Sponsored syndicated loan volume was on par with 1Q23, but was down 60% year-over-year, while non-sponsored issuance of US$20.9bn in 2Q23 was 50% lower year-over-year and 10% lower than 1Q23.