Marina Lukatsky

Marina Lukatsky

Global Head of Research, Credit & US Private Equity

Marina manages research content for LCD. She joined in 1999 as an analyst and has held various analytical and management roles on the LCD research team. Marina is responsible for developing analytics and commentary detailing trends in the global leveraged finance market. She also contributes commentary to LCD News on loan index performance, recovery rates, market technicals and other trends.

Articles by Marina Lukatsky

Private credit steps up competition with BSL market for large buyout funding

Large PE sponsors have continued turning to direct lenders for multibillion-dollar LBOs this year, as direct lenders offer speed, certainty of execution, and flexibility, despite a higher price tag.
June 11, 2025

May Wrap: Leveraged loans post best return in 17 months as risk assets rally

Lower-rated loans, including CCCs, outperformed.
June 4, 2025

Private credit, Wall St. banks each notch big wins in heated competition for deals

Private credit lenders will continue targeting refinancing opportunities among lower-rated syndicated deals.
May 28, 2025

March Wrap: Leveraged loan returns veer into the red

Increased uncertainty and a sharp equity market sell-off dampened loan investor demand just as the long-awaited net supply of leveraged loans materialized.
April 2, 2025

Q1 Leveraged Loan Wrap: Market cools after hot start to the year

Executing a syndicated loan deal at attractive terms has become less certain, especially for the riskiest borrowers.
March 28, 2025

Syndicated loan market strikes back, refinances private credit deals

The syndicated market is attracting borrower companies back to the fold with tighter pricing spreads.
March 19, 2025

Private credit borrowers ride loan repricing wave, with more activity expected in 2025

Private credit lenders have long touted the ease of working with a sole lender, but it’s also relatively simple to achieve a pricing cut on a private credit loan.
March 5, 2025

New crop of loans backing LBOs pushes pricing boundaries

Spreads on LBO-related broadly syndicated term loans in the year to date have averaged just 305 bps over Sofr, the lowest reading since 2007.
February 6, 2025

Monthly Wrap: Leveraged loans set another record; M&A percolates

The $212 billion of primary market activity in January was an all-time high.
February 5, 2025

How big is the US leveraged loan repricing opportunity in 2025?

Repricing activity remains hot this month as the secondary loan prices rally, indicating robust investor demand for the asset class.
January 9, 2025