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Even leveraged deals still being underwritten, though banks are selective
Liquidity event at American manager comes at fraught time for industry
Major sectors in leveraged loans are trading down, making shrewd credit selection vital
Deal could include $950m of bonds
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Garrett brings recap loan, VTU closes financing for its LBO -
Investors look for good names as spreads stabilise
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The €1.3bn-equivalent TLB is partly refinancing but TMF is acquisitive
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Acquisition activity likely to stay slow in first half of year
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Borrowers need to get used to the volatility and higher spreads in the market
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Progress seen in both markets but it remains gradual
