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 (9/26/16)

  • The transatlantic loan markets are facing a busy few weeks as companies accelerate borrowing plans to take advantage of strong and liquid market conditions before the looming US elections on November 8.
  • Thomson Reuters LPC’s Loan Market Scorecard provides a snapshot of key statistics in the leveraged loan and high yield bond markets.
  • The slow syndication of a US$7.5bn loan backing Analog’s US$14.8bn purchase of Linear Technology shows banks are finding it harder to make returns work on drawn acquisition term loans.
  • CLO funds could be squeezed as more companies switch to cheaper one-month Libor to cut interest payments on leveraged loans, which is hitting their income as payouts to some investors rise.
  • People Moves: Macquarie announced the appointment of William Dobson; Scott Graves is departing Oaktree; Tom Brady is replacing Carl Toriello at Jefferies; Craig Zaph has joined Cowen.

More syndicated loan coverage on LoanConnector.

What to Watch (9/26/16)

  • Lionsgate will launch September 27 a US$1.9bn term loan to back its acquisition of cable channel Starz. JP Morgan leads the transaction.
  • Investors added US$318.4m into bank loan mutual funds and pulled US$273.6m from high-yield bond funds in the week ending September 21.
  • Covenant-lite loan issuance has picked up momentum this quarter. Volume in 3Q16 to date has already reached US$74bn spread across 74 issuers.
  • The average primary yield on first-lien institutional tranches is at 5.41% in 3Q16, down 14bp from 2Q16 levels and over 100bp tighter than 1Q16 levels.

More syndicated loan coverage in Gold Sheets