Heading into month-end, October volume for middle market loans is on pace to set a six-year low at just $920 million. The last time total issuance for deals with a size of $350 million or less was lower was in February 2009, at $642 million. This will mark the fifth straight month of declining new issue volume. With the slowing pace of issuance, second-half volume now stands at $9 billion, compared to more than $21 billion over the first six months of the year. — Jon Hemingway

New-issue middle-market loan volume (loans of up to $350 million)