Draft of the Par/Near Par Trade Confirm
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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.
We’d be the first to acknowledge that transitioning from LIBOR to SOFR is hard. But LIBOR will end and we must prepare. Recognizing that, the September 5, 2019 Alternative Reference Rate Committee (“ARRC”) minutes introduced two tools to help ease the transition.
This is blacklined against the original dated October 19, 2017
This draft is dated October 9, 2019
The Treasury Department and the Internal Revenue Service issued proposed regulations on Tuesday to relieve loan market participants of the tax burdens associated with LIBOR transition.
Ninth Edition of the Fitch 50: Fitch Ratings profiles 50 prominent U.S. leveraged issuers in this recurring structure-focused special report series. This compilation illustrates capital structures with organizational debt diagrams, and highlights Fitch’s rating rationales and key credit drivers. The companies included in this report have a cumulative $506.7 billion of debt outstanding, comprising high-yield […]
After returning more than 4% during the two-month rally that began the year, the S&P/LSTA Leveraged Loan Index (LLI) has failed to sustain any meaningful momentum. Since March, monthly returns have flipped from positive to negative while market value returns were positive just twice – the last time being July. In September, despite market value losses that were negative yet again (albeit at just -0.02%), the LLI sported a total return of 0.47%.