ARTICLE · 20 JUNE 2023

Debt Download

Goodwin Procter LLP

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Welcome to Debt Download, Goodwin's monthly newsletter covering what you need to know in the leveraged finance market. We hope you are enjoying some early summer weather...

United StatesFinance and Banking

Jillian R. Gautier

Welcome to Debt Download, Goodwin's monthly newsletter covering what you need to know in the leveraged finance market. We hope you are enjoying some early summer weather and (if you live in the Northeast) are breathing easier!

Note: Some of the links in this newsletter may redirect you to a subscription-only resource.

In the News

The U.S. leveraged loan market was fairly quiet in May with lenders favoring higher-rated borrowers and new issuances mostly arising from refinancings. Although overall M&A activity remains relatively quiet for new platforms, private equity investors have been able to deploy capital through add-on acquisitions. In the broadly-syndicated loan market, average all-in clearing spreads for new single-B loans were mostly flat at S+520 (compared to S+524 in April). Looking ahead to the summer, Covenant Review expects loan activity to remain subdued, but posits that we will continue to see amend-and-extends, deals for good credits being done

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