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The LSTA Annual Conference: The Big Aha’s

On Wednesday, October 30, 2019, the LSTA hosted its 24th Annual Loan Market Conference. In case you weren’t one of the lucky 1,200 attendees, we are providing a short summary in the LSTA Newsletter today, with links to the presentations and charts. Of course, we hope you can join us in person next year!

Secondary Trading & Settlement Monthly August Executive Summary

Secondary loan trading volume fell 16% in August to a 14-month low of $51.4 billion. To put that figure in perspective, the last time volumes were below $60 billion was last September. But it wasn’t just the normal end of summer slowdown. August marked the fourth consecutive month where trade activity has stagnated; not rising above $61.3 billion. As a comparison, the market averaged over $68 billion of trading during the three prior months.

Update on the LSTA’s New Terms of Use

As we’ve previously noted, the LSTA recently changed the Terms of Use applicable to the use its trading documents. The new terms require that any counterparty that trades a loan using LSTA secondary trading documents either obtain a license or become a member of the LSTA.

Secondary Trading & Settlement Monthly: July Executive Summary

Secondary loan trading volume totaled just north of $61 billion in July – a 10-month low.  July marked the third consecutive month where volumes have stagnated; not rising above $61.3 billion per month.  During the three months prior (February through April) the market averaged over $68 billion of trading.  Of course, volumes usually taper off […]

FAQs: The LSTA Trading Documents’ New Terms of Use

As we previously noted, on May 17, 2019, the LSTA published a new suite of U.S. secondary market trading documents. In conjunction with the rollout of the new documents the LSTA changed the Terms of Use applicable to counterparties who use those documents. Since then, we’ve received many questions about the new Terms of Use and below we answer many of those questions.

Secondary Trading & Settlement Monthly: June Executive Summary

After recording consecutive record highs during the fourth quarter of last year ($211 billion) and again during the first quarter of this year ($212 billion), secondary loan trading volumes decreased 10% in the second quarter, to $191 billion. Second quarter’s tally represented a 4% increase over the same time last year (which by the way, […]

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Pre-Holiday Market Check In

While some headlines might suggest otherwise, we know that markets ebb and flow. After all, that’s what makes them markets. Today we are doing a short pre-holiday check in on how that ebbing-and-flowing loan market is doing.

The Rise of Sustainability Linked Loans

ESG and sustainability are two buzzwords that crop up more and more in the financial markets – the loan market included. According to Bloomberg, $97 billion in green loans and sustainability linked loans have come to the global loan market in the first three quarters of 2019. Of that activity, more than $55 billion in volume represents sustainability linked loans.

SOFR Loan Spotted

According to CME, there have been over $300 billion of SOFR floating rate issuances through October 2019. While material, that’s kind of old news. The new news? That SOFR bilateral loans are beginning to appear publicly.

LSTA Newsletter: November 8, 2019

We discuss simple daily SOFR in arrears, the latest in the secondary market, a new LIBOR resource we’re providing, and some SOFR tools. We also provide an overview of the loan market holidays for 2019 reminder you to use the LSTA job board if you’re looking for a job or to fill a position on your staff.

Desperately Seeking Syndications

re you a JOB SEEKER? If so, you should check out the LSTA Loan Market Job board on our newly-designed website at https://www.lsta.org/loan-market-jobs/.