The CUSIP Working Group seeks to develop policies and procedures regarding the application of CUSIPs by Agent Banks for all corporate loan deals and facilities and their subsequent incorporation into all loan systems.
This Working Group is open to all members. Although its primary participants are Agent Banks, Buy-side institutions are welcome to join.
Membership in the LSTA offers numerous benefits and opportunities. Chief among them is the opportunity to participate in the decision making process that ultimately establishes loan market standards, develops market practices, and influences the market’s direction.
On Monday, February 24, U.S. stock indices recorded their worst decline in two years on concerns the coronavirus outbreak would continue to spread and begin to undermine global economic growth. In the loan market, bid levels indiscriminately dropped 18 basis points to begin the week, which worsened February’s price decline to 32 basis points.
On Monday, February 24, U.S. stock indices recorded their worst decline in two years on concerns the coronavirus outbreak would continue to spread and begin to undermine global economic growth. In the loan market, bid levels indiscriminately dropped 18 basis points to begin the week, which worsened February’s price decline to 32 basis points.
Recently, the LSTA submitted a so-called “me-too” comment letter in response to a proposed rule published by the SEC late last year (the “Proposals”) impacting advertising and solicitation by investment advisers.
This spreadsheet is for the week ending February 21, 2020
This week, we start off in the markets, comparing defaults (low but rising), leverage (high but edging down), and yields (low and lowering). We move to LIBOR, announcing the new SOFR Index and Averages, and reminding members of our weekly call. We shift to the courts, providing an update on our Madden vs Midland amicus. […]
Loan defaults climbed (slightly) this month and leveraged M&A structures have been more conservative in the last three months. These two facts likely are unrelated.
The LSTA last week joined an amicus brief in a Colorado case that is considering the question, “can a loan validly originated become invalid because it is subsequently sold or assigned to another party?”