It’s no great surprise, but second-lien prices have fallen further than first-lien prices during the loan market’s October setback. Indeed, the average bid of first-lien paper in the S&P/LSTA Leveraged Loan Index has dropped 0.34 points, to 97.87 on Oct. 24, from 98.21 on Sept. 30. Over the same period, the average second-lien bid has slumped 1.42 points, to 97.86, from 99.28.
LCD subscribers can click here for full story, analysis, and the following charts from this article:
- Monthly returns
- Average Spread to maturity for leveraged loans
- Averaged new-issue yield to maturity
- Second-lien volume
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