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 (8/22/16)

  • Chefs’ Warehouse cut its earnings forecast by about 20% just weeks after it obtained millions of dollars in financing, drawing the ire of some lenders and muddying the company’s growth prospects.
  • Thomson Reuters LPC’s Loan Market Scorecard provides a snapshot of key statistics in the leveraged loan and high yield bond markets.
  • Middle market borrowers are struggling to find clarity through the fog of mixed economic signals which is creating an ongoing drag on investment and dealflow.
  • Valeant Pharmaceuticals International lenders agreed to an amendment to loosen the company’s covenants on its US$31bn of debt.
  • The European leveraged loan market is preparing for a surge of opportunistic financings in September as favorable market conditions benefit private equity sponsors and borrowers.

More syndicated loan coverage on LoanConnector.

What to Watch (8/22/16)

  • LBO activity continues at a light pace in 3Q16 with completed volume only reaching US$6.4bn with another US$2.1bn in process. But average leverage has risen to 6.39 times so far in 3Q16 from 5.95 times in 2Q16 on larger deals.
  • Middle market loan issuance continues to underwhelm. Average monthly MM loan issuance calculates to US$14.7bn for 2010-2015. Through July 2016, that average is only US$9bn.
  • Leveraged loans and high yield bonds are on course for their best return in several years, with the year to date gains currently at 6.4% and 13.8%, respectively.
  • Retail investors added US$125.4m into bank loan mutual funds and added US$888.9m to high-yield bond funds in the week ending August 17. For leveraged loans, the week’s inflows grew from US$96.4m of inflows the prior week.

More syndicated loan coverage in Gold Sheets