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Leveraged Commentary and Data (LCD) is now part of PitchBook, a Morningstar company.

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What is a Leveraged Loan?

A leveraged loan is a debt instrument undertaken by speculative-grade issuers, arranged by one or more investment banks and sold largely to institutional investors. See more in LCD's free Loan Primer and our quarterly almanac detailing market trends.

LCD News & Analysis

News from the leveraged loan markets—as well as the high-yield bond and distressed debt and bankruptcy sectors—produced by our own team of experienced journalists and analysts.

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Leveraged Loan Trends

Loan Market At A Glance

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LCD News & Insights

With real-time news and proprietary analytics, LCD provides actionable news and technicals for the U.S. and European leveraged loan, high-yield bond, distressed, and investment-grade corporate markets. Plug into the leveraged finance space with some of our complimentary stories on originations, downgrades, and other market-level trends.

Free News Stories

Our Leveraged Loan Primer details the leveraged loan market mechanics and historical trends

What is a leveraged loan? Our free, digital Leveraged Loan Primer is the definitive guide to all leveraged loan markets and the industry at large. It covers everything from leveraged loan purposes, types of syndications, how a loan is priced, types of loan facilities, LBOs, M&A, loan derivatives, pricing terms/rates, and everything in between.

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High-yield bond market trends and stats

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