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Loan Syndications and Trading News

January 19, 2017 - On Wednesday, the LSTA hosted its Annual Membership Meeting. In years past, Executive Director Bram Smith’s address included inspirational rhetoric, including “Decide!”, “We shall go to the moon!”, and “The Tipping Point”. This year’s theme was a bit more down to earth: “Try Not to S**k”.

January 4, 2017 - What a difference a year makes.  In 2015, contagion spread across the fixed income markets as the price of oil plummeted and global economies weakened.  As a result, S&P/LSTA Leveraged Loan Index (LLI) returns ran negative, at 0.69%, for just the second time in the LLI’s 20-year history. (The other time, of course, was 2008.)   Fast forward to 2016, where risk assets and commodities rallied which subsequently lifted loan returns above 10% for only the third time in the past 20 years.

January 3, 2017 - The loan market saw a rocky start in 2016, with secondary prices tumbling and primary spreads jumping in the first two months. But by the end of 2016, first quarter turmoil was a distant memory.

December 22, 2016 - The District Court for the District of Columbia issued a ruling denying the LSTA’s claims against the SEC and the Federal Reserve in connection with their ruling on risk retention.  The LSTA is currently weighing all its options, including appealing the decision to the DC Circuit Court of Appeals.

December 21, 2016 - LSTA is pleased to report that a case in which we filed an amicus brief, Stonehill v. Bank of the West, the Court of Appeals of New York, the state’s highest court, ruled unanimously in favor of Stonehill, the party we supported. 

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