08 Oct Voya Senior Loan Group – ‘Talking Points’ – Staying Keen on Loans (includes September in Review)
Voya Senior Loan ‘Talking Points’ is a weekly publication from the Voya Senior Loan Team Heads, providing key insights and results in the Senior Loan marketplace.
Staying Keen on Loans
Demand from a variety of market participants drove a total return for the S&P/LSTA Leveraged Loan Index of 0.16% for the week. The average bid moved up seven points to end the week at 98.04, with the riskiest part of the market seeing the greatest benefit.
September in Review
September was a busy month for the loan market as managers worked through nearly $36 billion in M&A issuance, an eight-month high and welcome relief from the unrelenting refinancing activity the market saw earlier in the year. In addition to fresh paper, moderate but persistent outflows from loan funds during the month helped bring better balance to the market technicals.