Helping guide the global syndicated loan market

Thomson Reuters LPC is the premier global provider of information on the syndicated loan and high yield bond markets. Our first-to-the-market news, comprehensive real-time and historic data helps industry players stay informed about market trends and facilitate trading and investment decisions.

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5 Things to Know (8/3/15)

  • With about 17 months before regulations requiring firms to be on the hook for a portion of their funds’ risk, some managers are holding onto their cash and structuring deals to allow for compliance in the future.
  • Thomson Reuters LPC’s Loan Market Scorecard provides a snapshot of key statistics in the leveraged loan and high yield bond markets.
  • CommonBond has hired Morgan Edwards, formerly the head of middle market lending and the head of leveraged finance at Macquarie Capital, as its CFO.
  • Massive acquisition financings are multiplying. Teva is lining up $27B of debt to finance its $40.5B acquisition of Allergan’s generics business, along with Anthem’s $54.2B acquisition of Cigna.
  • Antares Capital is in the market with $13.9B of credit facilities backing its sale to Canada Pension Plan Investment Board (CPPIB) from General Electric Capital Corp, which include a jumbo $10.7B asset-backed loan.

More syndicated loan coverage on LoanConnector.

What to Watch (8/3/15)

  • Slumping commodity prices are hitting the secondary loan prices of iron ore, oil services and coal companies as China’s stock market volatility continues and global markets brace for a U.S. interest rate rise.
  • KIK Custom Products will launch August 5 a $1.075B credit to finance its acquisition by Centerbridge Partners. Barclays leads along with BMO, Nomura and Macquarie.
  • Downward price flexes on first-lien institutional term loans continue to outpace upward flexes in July. At 15 downward flexes and eight upward flexes, July’s numbers mirror those of June.
  • Although dealflow remains temperate, large corporate LBO leverage levels have risen to 6.3 times so far in 3Q15, up from 6.01 and 5.99 times, respectively, in 2Q15 and 1Q15.

More syndicated loan coverage in Gold Sheets