Ted Basta headshot

Ted Basta

Executive Vice President of Market Analytics & Investor Strategy

tbasta@lsta.org / (212) 880-3005

Theodore Basta is Executive Vice President of Market Analytics and Investor Strategy for the LSTA, where he manages key strategic products and partnerships, including the LSTA’s secondary trading and settlement data initiatives, the LSTA/Thomson Reuters LPC Mark-to -Market Pricing Service and the S&P/LSTA Leveraged Loan Index. In addition, Mr. Basta runs the Association’s global investor conferences and manages the LSTA’s Market Analytics team which is responsible for the LSTAs analytical and reporting initiatives all of which enhance market visibility, transparency and liquidity. Mr. Basta also manages the LSTA’s Shift Date Process, the Association’s website and social media. Finally, Mr. Basta plays an active role in speaking at industry conferences, both in the US and abroad, and has authored chapters on the secondary loan market in numerous books and market publications.

Prior to joining the LSTA, Ted was Vice President and Director of Global Pricing with Loan Pricing Corporation (LPC), where he managed the LSTA/LPC Mark-to-Market Pricing Service. During his tenure at LPC, Ted was instrumental in driving new product development and secondary market analytics, while playing an influential role in several initiatives that enhanced the liquidity and transparency of the secondary loan market.

Mr. Basta received an M.B.A. from the Zicklin School of Business at Baruch College and a B.A. in Accounting from Long Island University.

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BYLAWS of the Loan Syndications and Trading Association, Inc. Amended as of September 19, 2019

LSTA Newsletter – September 20, 2019

This week we explain the big SOFR jump, share Lee Shaiman’s and David Lerner’s Morning Consult op-ed, highlight some LIBOR coverage, and discuss the ESG lending panel at the Refinitiv LPC Loan Conference.

LSTA Meets With Rep. Andy Barr

This week LSTA members and staff met with Rep. Andy Barr (KY-06). Barr, a member of the House Financial Services Committee, has led bipartisan efforts to pass legislation that would have revised the Volcker Rule in a way that would have permitted banks to hold the debt securities of legacy CLOs and to revise the risk retention rule to allow managers to more easily comply. More recently, Barr was a key participant at a hearing of a subcommittee of the HFSC explaining that neither leveraged loans nor CLOs presented systemic risk.

What is ESG-Linked Lending and Why Do We Care?

That is the question answered by the sustainable finance panel at the 25th Annual Refinitiv LPC Loan Conference. Moderated by Maria Dikeos (Refinitiv LPC), the panel explored the recent growth of sustainability-linked loans (or ESG loans) in the U.S. Panelists included Sean Colvin (Louis Dreyfus), Gary Herzog (Credit Agricole), Carolyn Kee (Citiggroup), Claire O’Connor (Barclays Capital), Cara Younger (BBVA) and Tess Virmani (LSTA). The speakers outlined the benefits that these loans can have for the right borrower and also flagged some of the important considerations to be mindful of in structuring these loans.

LIBOR Trending Too…

While the daily SOFR spike grabbed the headlines this week, other LIBOR coverage should be noted as well. First, LIBOR’s end is trending. In an American Banker Bankshot podcast, the LSTA’s Meredith Coffey discussed exactly why LIBOR is going away, what the replacement rate likely would be, and why this is important to bankers and borrowers (and students and homeowners!).

SOFR Above Tuesday?

For those that missed it – which, based on our email traffic, was no one – the published overnight SOFR rate jumped from 243 bps on Tuesday to 525 bps on Wednesday and then back to 255 bps on Thursday. So what happened to SOFR on Wednesday? We discuss below (and the ARRC explains in this helpful missive as well).