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With Yields Rising and Refis Slowing, Leveraged Loan Repayment Rate Hits 3-Year Low

In the fourth quarter, the repayment rate of the S&P/LSTA Leveraged Loan Index fell to a three-year low of 4.3%, from 6.1% during the prior three months, in the face of negative market conditions.

The general weakness of the leveraged loan market was, to a large extent, responsible for slowing repayment rates during the final three months of 2014. Indeed, rising loan and high high yield bond clearing yields understandably discouraged issuers from refinancing seasoned loan paper.

For news and analysis on the leveraged loan market check www.leveragedloan.com, a free website powered by LCD to promote the asset class.

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