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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.

From offices in New York, London, Hong Kong, Sydney and Tokyo we are the one source for comprehensive coverage of the syndicated loan markets worldwide.

Our publications, online news, analysis, valuation services and interactive databases are used every day by banks, asset managers, law firms, regulators, corporations and others to drive valuation, syndication, trading, and research and portfolio management activities.

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5 Things to Know (5/2/16)

  • A US$17.2bn bridge loan that backs Abbott Laboratories’ US$25bn acquisition of St. Jude Medical will boost investment grade loan volume that so far this year has been depressed.
  • Thomson Reuters LPC’s Loan Market Scorecard provides a snapshot of key statistics in the leveraged loan and high yield bond markets.
  • Distressed US companies received loans this year to sustain business while reorganizing, and the number will swell as troubled energy companies increasingly file for bankruptcy.
  • With US rules forcing managers to hold onto a portion of their fund’s risk set to go into effect, firms have chosen to make their deals compliant with both US and European requirements to expand the buyer base.
  • People moves: BlackRock’s Leland Hart steps down, Morgan Stanley names corporate trading heads, Lee departs JPM, Valeants names Papa CEO.

More syndicated loan coverage on LoanConnector.

What to Watch (5/2/16)

  • Norfolk Southern will launch May 3 a refinancing of a US$750m revolving credit facility. Wells Fargo and Bank of America Merrill Lynch lead.
  • Retail investors pulled US$75.2m from bank loan mutual funds but added US$296.3m into high-yield bond funds the week ending April 27.
  • Investment grade M&A issuance dropped to US$28.5bn in 1Q16 from US$46.6bn in 4Q15 and US$71.6bn in 3Q15. Investment grade M&A volume is on the rise after last week’s Abbott deal.
  • Flex activity has seen a shift in April as downward flexes dominated. 22 first-lien institutional term loans have cut pricing. This is the largest number of downward flexes since April 2015, which recorded 27 downward flexes.

More syndicated loan coverage in Gold Sheets