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The definitive guide to the leveraged loan market

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 Leveraged Loan Primer and our quarterly almanac detailing market trends.

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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

      Month-to-Date Change from Last Month Year-To-Date Change from 2022
      Avg. Clearing Yield (all data as of 7/19) 10.03 -0.09 10.14 0.0359
      Avg. Bid Morningstar LSTA US Index 94.79 0.91 94.79 1.72
      Morningstar LSTA US Index Return 1.03 -0.56 7.57 10.85
      Institutional Loan Volume (bils) 12 -2.75 114.14 -58.83
      HY Bond Volume 3.34 -9.48 96.96 27.87
      Leveraged Finance Volume (including pro rata) 17.8 -17.07 262.5 -126.49
      June 2022 LCD article for “In flight to safety, leverage loan AUM shrinks in May, snapping growth streak”

      LCD news & insights

      With real-time news and proprietary analytics, LCD provides 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.

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      Our Leveraged Loan Primer details the leveraged loan market

      What is a leveraged loan? Our free, digital Leveraged Loan Primer is the definitive guide to the global leveraged loan market 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.

      Read the primer
      LCD leveraged loan primer with chart showing Morningstar LSTA Loan Index: Amount outstanding, growth rate from February 2019 to February 2022.

      See how LCD’s news & data can help you track the market

      On-demand LCD webinars

      Watch our free, on-demand webinars from Leveraged Commentary & Data (LCD).