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Major sectors in leveraged loans are trading down, making shrewd credit selection vital
Deal could include $950m of bonds
Upper mid-market firms eschew ‘exciting’ stories as cracks emerge in European private credit
Pharmaceuticals and energy transition also ripe sectors for M&A
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Managers expect drop in appetite for new issuance but spreads likely to drift wider rather than balloon
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German beauty retailer’s IPO triggers overhaul of debt structure, ratings may go
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Rising loan prices have boosted equity returns on 2022 deals despite wide spreads
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The additional €5bn of repayments could be 'material' for triple-A demand
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Despite a few tighter prints last week, pricing is unlikely to compress much further