Some US leveraged loans are struggling to clear the market after volatility in global equities pulled secondary loan prices lower and prompted a correction that has stranded opportunistic deals in the primary market as sentiment turned.
… Despite recent weakness in the loan market, bankers and investors expect conditions to improve in 2019, and some are even seeing this period as a buying opportunity, investors said.
“It is certainly a credit pickers market,” said Neil Desai, a managing director and portfolio manager at investment firm Highland Capital Management. “You can find high-quality loans that are below par simply due to the fact that their coupons have gotten so low.”…
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