Headline News

June 19, 2009
LSTA Publishes Exposure Drafts of Revised Trading Documentation
The proposed modifications include new language relating to the definition of Average LIBOR More
June 19, 2009
The LSTA Recommends Treating July 3 as Loan Market Holiday When Calculating Delayed Compensation
Delayed compensation accrues on loan market trades that do not settle within a set number of business days after trade date. Business days do not include Saturdays, Sundays or any day the Federal Reserve Bank of New York is closed. More
June 09, 2009
LSTA has Published in Final Form New 'Borrower Deemed Consent' Language
The new language provides that a borrower shall be deemed to have consented to an assignment unless it has objected to it within five business days after having received notice thereof. More
June 04, 2009
LSTA London Conference: Presentations Now Available
PowerPoint presentations are now available More
May 11, 2009
The LSTA Recommends Treating May 25 as Loan Market Holiday When Calculating Delayed Compensation
Delayed compensation accrues on loan market trades that do not settle within a set number of business days after trade date. More
May 05, 2009
LSTA Publishes 1Q 2009 Secondary Trading Study Results
The LSTA presented the results of its 1Q 2009 Secondary Trading Study, a transparent evaluation of the secondary loan trading market. More

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Upcoming LSTA Events

 

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2009 Membership Recruitment: 22 New Members

Aareal Capital Corporation
Ashurst LLP
Capital Royalty LP
Chapdelaine Credit Partners
ClearStructure Technologies
DiMaio Ahmad (DA) Capital
FBR Capital Markets
Feingold O'Keefe Capital
Fieldstone
Golub & Golub LLP
Hamblin Watsa (Fairfax)
Kilpatrick & Stockton, LLP
KKR Financial LLC
Kleinberg, Kaplan, Wolff & Cohen
Lippes Mathias Wexler Friedman LLP
Miller Tabak & Roberts Securities
Nazario Legal Group, PLLC
New Mountain Capital, LLC
Sadis & Goldberg LLP
Sonnenschein
TowerBrook Capital
Wexford Capital

See Complete List of Members

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Weekly Poll

The secondary loan market has had a slightly softer tone in the past two weeks. Where will loan prices go over the next two months?

a)  Down significantly: Technicals and fundamentals will weaken, driving down bids
 
b)  Down slightly: Market has come too far, too fast – and still needs to retrench a bit

c)  Flat: Technicals will continue to provide support and prices will flatline

d)  Up: Technicals will jumpstart the price rally again

Latest Market Data & Analysis

This Week's Biggest Movers

   About List

Company Name Loan Rating Moody's/S&P Coupon Maturity Average big (pct.psts.) Weekly change (pct.psts.)
Lear Corp
N.R.*/N.R.*
L+250
29-Mar-12
69.72
+4.43
Accuride
N.R.*/CC
L+225
6-Jan-12
77.10
+2.60
Six Flags
Theme Parks,
Inc.
WR/D
L+250
1-May-15
93.79
+1.25
Isle of
Capri
Casinos
B1/B+
L+175
19-Dec-13
89.65

+1.15
ADESA Inc
Ba3/B
L+225
21-Oct-13
87.70
+1.01

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More LSTA/LPC Mark-to-Market Pricing

S&P/LSTA U.S. Leveraged Loan 100 Index

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More S&P/LSTA Loan Index Analysis

Secondary Market Price Levels

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More LSTA Market Analysis & Data

Secondary Market Trade Volume

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More LSTA Market Analysis & Data

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S&P/LSTA U.S. Leveraged Loan 100 Index

The S&P/LSTA U.S. Leveraged Loan 100 Index is designed to reflect the largest loan facilities in the leveraged loan market. It mirrors the market-value-weighted performance of the 100 largest institutional leveraged loans based upon actual market weightings, spreads and interest payments. The index was officially launched during late October, but its history dates back to January, 2002. Standard and Poor's calculates the index using the LSTA/LPC Mark-to-Market Pricing to value each tranche in the index.

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Secondary Market Price Levels

Displays the average mean of mean (simple average of all bid and ask quotes) and bid-ask spread of the LSTA market dataset over the past twelve month period. The dataset includes aggregated daily pricing data covering all U.S. term loans priced by LSTA Thomson Reuters Mark-to-Market Pricing which are quoted by 3 or more broker/dealers.

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Secondary Market Trade Volume

As a part of the Loan Syndications and Trading Association’s quarterly Trade Data Study initiative, secondary trade volume figures are provided each quarter. Trade data is collected from the largest buy- and sell-side member institutions of the LSTA.

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This Week's Biggest Movers

The Week’s Biggest Movers list contains 20 widely quoted syndicated bank loans which experienced the greatest price volatility for the current week. All loans listed are priced in the secondary by LSTA/LPC Mark-to-Market, and must be Term-B or sold to intuitional investors, while actively marked by five or more individual broker/dealers.

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