The U.S. leveraged loan market grew to $1.06 trillion in July, another record for the asset class, according to the S&P/LSTA Loan Index.
The Index measures the amount of outstanding institutional leveraged loans; these are term loans with little or no amortization, sold to institutions such as CLOs, loan funds and ETFs, pensions funds, and similar.
The U.S. leveraged loan market has grown steadily since the financial crisis, fueled by investment into the floating rate asset class (this type of debt tends to fare better in a rising rate economic environment).
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