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In this list

Oil & gas leveraged loans: Secondary prices sink, yields soar

Industry-Specific Losses Stand Out In Leveraged Loan Market As COVID-19, Oil Fears Globalize

Loan Downgrades Are the Biggest Concern for the European CLO Market

Europe’s Leveraged Loan Issuers Draw on Revolving Credits to Preserve Liquidity

US banks' CLO security holdings near $100B after 12% jump in 2019


Oil & gas leveraged loans: Secondary prices sink, yields soar

oil gas borrowing costs

 

Though the impact of the recent plunge in oil prices on the broader S&P/LSTA Leveraged Loan Index is less severe than in the high-yield market, as discussed here, this week was nevertheless particularly brutal for loans in the sector.

As of yesterday’s close, the average bid price of first-lien oil & gas Index loans had tumbled to 90.35% of par, from 94.90 at the Nov. 28 close and down from 96.77 at the end of October, pushing the spread to maturity implied by the average bid to L+731, from L+600 at the end of November. – Kerry Kantin