20 Feb 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.
All Quieter on the Loan Market Front
Despite a bounce in broad capital markets, movement in the loan market was more tempered this week as a result of current market technicals. The Index posted a return of -0.10% and a closing average bid price of 89.29.
Only two transactions launched into the primary market over the shortened trading week due to the U.S. holiday on Monday. In the secondary market, some earnings news moved a few loans, such as Community Health Systems and LPL Financial.
Visible demand, which excludes non-CLO institutional investors, was slightly negative overall for the week. The less transparent flows from non-CLO institutional investors, at least anecdotally from managers in the loan market, have remained stable.