Search Results

Total Results: 

Primary Loan Market: A Tale of Two Quarters

To be fair, there is volatility out there. But in 1Q18, the loan space was a bastion of stability. At a high level, the primary leveraged loan market seemed actually slow(ish) – at least in comparison to the year-earlier period. As the volume table illustrates, TR-LPC saw leveraged lending declining 33% from 1Q17 levels to $269 billion, while institutional lending slid 37% to $186 billion. S&P/LCD likewise saw a drop in leveraged lending (down 20% to $167 billion) and institutional lending (down 25% to $129 billion). Meanwhile, LFI tracked 1Q18 “priced deals” at $243 billion, off 28% from the year-earlier period.

3Q17 U.S. Primary Loan Market: The Usual Suspects

Third quarter 2007 saw a flicker of balance in August 2017, bookended by the usual trends: too much institutional lender demand chasing too little loan supply. We discuss the technical trends – and consequent terms and conditions – below.

Become a Member

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.

View a list of all members.

Our Partners

cusip-global-services-vector-logo.svgFitch Group logoRefinitiv-(March-2019)SP-Global-Market-Intelligence

Search Results by Relevancy

LSTA Newsletter: December 6, 2019

This week, we revise our LIBOR deadline from 12/31/21 to 3Q20. (Well, technically, that was the FCA…and just for Stg LIBOR.) We review the secondary trading market in October (and hint toward November) and recap the latest on ESG and ratings. Finally, we remind you that we are now offering members a weekly LIBOR Q&A […]

Sustainability-Linked Loans: Financing the Green Transition

This practice note provides an overview of sustainability-linked loans (SLL). Sustainability-themed debt instruments represent one response of the financial community to the need to channel capital towards facilitating a carbon transition. A Lexis Practice Advisor Practice Note by Amara Gossin, Barclays and Robert Lewis, Sidley Austin

ESG and Cyber in Credit Ratings Presentation

The focus on environmental, social, and governance (ESG) issues is intensifying across financial markets – the loan market included. This presentation was done by Jim Hempstead, Managing Director, Global Project & Infrastructure Finance and Brendan Sheehan, VP-Senior Analyst-Environmental, Social & Governance both from Moody’s Investor Service.

Secondary Trading & Settlement Monthly: October Executive Summary

November was a solid month in the secondary loan market, with S&P/LSTA Leveraged Loan Index (LLI) returning 0.59%. October, however, was a different story. Secondary loan trading volume spiked 19% in October to a six-month high of $64 billion. This followed a two-month stretch where volumes fell below $60 billion per month.

Credit Ratings and ESG (Part 1)

As 2019 comes to a close, the rise of environmental, social and governance (ESG) significance in financial markets has been undeniable. In Europe, this trend is quite established, but over the last two years it has jumped the pond and there is now significant ESG interest by U.S. investors.