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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 (5/23/16)

  • Banks are considering underwriting second-lien deals again after the market virtually shut down in late 2015, creating a trend that has been described as “bring your own junior debt” for sponsors.
  • Thomson Reuters LPC’s Loan Market Scorecard provides a snapshot of key statistics in the leveraged loan and high yield bond markets.
  • Institutional demand for private credit is propelling capital formation in the US middle market, as a flurry of newly created direct lending platforms enter the mix and existing alternative debt capital providers continue to raise money and add scale.
  • Lenders are guarding against low interest rates in the US and negative rates in Europe and Asia by introducing zero Libor limits to investment-grade loans for their clients.
  • Food and beverage company PepsiCo is in the market with US$7.45bn in revolving credit facilities to refinance debt.

More syndicated loan coverage on LoanConnector.

What to Watch (5/23/16)

  • The institutional pipeline got a boost of roughly US$10 billion week over week, logging US$33 billion to date.
  • The uptick did little to mitigate the supply/demand imbalance which has caused much handwringing among lenders.
  • Despite improved market conditions, syndicated second-lien volume remains at anemic levels at just under US$1bn so far in 2Q16. In the middle market, only US$60m in second-lien tranches have been syndicated.
  • Year-to-date middle market volume of US$30bn trails 2015 by 44%. Middle market bids have gained 50bp in 2Q16 to the 94.6 context.
  • CLO issuance has surpassed US$17bn to date.

More syndicated loan coverage in Gold Sheets