As the institutional loan market’s excess demand continues into its eighth month, the benefits are drifting down the capital stack. To wit, after $100 billion of (primarily first-lien) repricing in January, second lien loans may be on deck.
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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.