The Primer can be found at LeveragedLoan.com, LCD's free website promoting the leveraged loan asset class. LeveragedLoan.com features select stories from LCD news, as well as loan market trends, stats, job postings, and analysis.
We’ll update the Primer charts regularly, and add more as the market dictates.
Some of the charts included with this release of the Primer:
- Leveraged loan volume – historical
- LBO Loan volume
- Repricing volume
- Market flex deals: issuer-friendly vs investor-friendly
- CLO issuance
- Loan mutual fund assets under management
- Leveraged loan volume by industry
- High-profile private equity loans, 4Q 2015
- Covenant-lite loan issuance
- Historical leveraged loan default rate
The Loan Market Primer is one of the most popular pieces LCD has published. Updated annually (print) and quarterly (online) to include emerging trends, it is widely used by originating banks, institutional investors, private equity shops, law firms and business schools worldwide.
Check it out, and please share it with anyone wanting an excellent round-up of or introduction to the leveraged loan market.
Here’s the Primer table of contents (go online to see the submenus for each category):
- What is a Leveraged Loan?
- Market background
- Leveraged Loan Purposes
- How are Loans Syndicated?
- Types of Syndications
- The Bank Book
- Leveraged Loan Investor Market
- Public vs. Private Markets
- Credit Risk - Overview
- Syndicating a Loan - by Facility
- Pricing a Loan - Primary Market
- Types of Syndicated Loan Facilities
- Second-Lien Loans
- Covenant-Lite Loans
- Lender Titles
- Secondary Sales
- Loan Derivatives
- Pricing Terms/Rates
- Original-Issue Discounts
- Voting Rights
- Mandatory Prepayments
- Spread Calculation
This story first appeared on www.lcdcomps.com, LCD's subscription site offering complete news, analysis and data covering the global leveraged loan and high yield bond markets. You can learn more about LCD here.