Voya’s Bakalar Notes Loan Market “Wide Open” Compared To Last Year
Refinitiv reported, “The U.S. leveraged loan market is back at full steam after a tumultuous year, with demand outweighing supply and investors eager to put their cash to work.” According to Refinitiv, “Several issuers have since taken this opportunity to re-launch transactions that were pulled last year, including retailer PetSmart, business information provider ION Analytics and marketing solutions provider Thryv.” Voya Investment Management Group Head and Chief Investment Officer of Senior Loans Jeff Bakalar said, “‘The market is wide open and more receptive than it was four to five months ago,’ ... pointing to the technical recovery that has taken place in the loan market over the last few weeks.” He also said that “issuers that were caught up with the coronavirus-driven market sentiment and could not capture a good deal, especially in the second half of 2020, are likely to return to the market.”