Voya Senior Loan Group – ‘Talking Points’ Weekly Update

28 May Voya Senior Loan Group – ‘Talking Points’ Weekly Update

Voya Senior Loan ‘Talking Points’ is a weekly publication from the Voya Senior Loan Team Heads, which provides key insights and results in the Senior Loan marketplace.

Riding the Technicals

Looking to take advantage of robust technicals, investors sought out a series of large cap primary deals ahead of an expected slowing of the forward pipeline in what was a good week for the asset class. The index gained a solid 0.35%, while average bids increased by 22 bps, to 93.34.

An extremely well bid secondary market continued to enjoy a strong technical backdrop despite the continued repricing and opportunistic activity that is generally par for the course with the current higher spirits brought on by this spring’s rally. While sizeable repayments and a smaller new issue flow have frustrated some, the general health of the market continues to improve: the percentage of the market bid at par or above continues to grow, and now stands at nearly 33%, up from 27% a week ago.

Read full paper