US downward price flexes soar in 3Q23

LSEG (1)
LSEG|September 20, 2023
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The US institutional loan market continues to gain momentum as investor appetite remains strong.  This is evident in flex activity…

So far this quarter, 51 downward price flexes on first-lien institutional yields have been reported, 55% higher than last quarter.  This is the most price cuts since 4Q21, when 73 downward price flexes were tracked.  Some issuers, like Syneos Health, who is in market with a US$2.7bn term loan B, have even been able to flex pricing twice.

(Past performance is no guarantee of future results.)

Contact Diana Diquez
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