US LevFin Wrap — Loans wilt in the summer heat

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Market Wrap

US LevFin Wrap — Loans wilt in the summer heat

David Bell's avatar
  1. David Bell
5 min read
  • Another sluggish week in the primary as secondary loan prices dip
  • Jumbo WorldPay repricing lined up for next week; Darktrace LBO debt in market
  • Michaels Stores debt hit by weaker sales

A heatwave may have swept across the US this week but the leveraged finance markets struck a chillier note, as sentiment in the loan market softened on the back of a drop in rates, inflation reads and political headlines in Europe.

We covered several debt syndications in detail, including Copeland, Frontier, NielsenIQ, and Hertz this week, but volumes overall were muted in a holiday-shortened week that saw some secondary softness. Six high yield bonds priced totaling $3.4bn and 16 loans allocated for $17bn, according to 9fin data.

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