Amend-and-extend loan volume jumped to $25.4 billion in May, a high for any month since June 2024.

With new-issue supply expected to stay thin ahead of the late-summer break, there are signs that pricing is testing the limits of investor tolerance.

Private equity firms have turned to dividend recaps in recent years as they have held portfolio companies for longer amid a challenging exit environment.

Healthcare has claimed the top spot in institutional loan issuance for the first time since 2015, accounting for a record 14% of volume so far in 2026.

Captive CLO equity funds are generating interest in the leveraged finance space.

Distressed and stressed paper combined accounts for roughly 12% of loans, while the par-plus share remains near 40%, underscoring a growing divide between stronger and weaker credits.

The PitchBook LCD six-month forward default projection is 1.86% by issuer count.

The deal brings corporate M&A loan volume to $15.1 billion in May, more than the combined total from January-April.

EBITDA grew by 9% among publicly filing leveraged loan issuers, though the share of issuers flashing warning signs also ticked up, suggesting market bifurcation.

Proceeds refinance part of a $15 billion bridge facility supporting Paramount’s acquisition of WBD.

The long-running tug-of-war between the private credit market and the broadly syndicated loan market over takeouts has favored the banks of late.

Publicly traded BDCs have been increasingly returning capital to investors through share buybacks instead of investing it in loans.

Higher-rated borrowers and those with limited AI disruption exposure are placing opportunistic deals as investors draw sharper distinctions between credits.

Proceeds support Carlyle’s €7.7 billion acquisition of BASF’s automotive OEM coatings, automotive refinish coatings and surface treatment businesses.

Final pricing for the seven-year covenant-lite TLB is S+325, with a 0% floor and OID of 99.5.

Over the past 12 months, 18 Morningstar LSTA US Leveraged Loan Index issuers that conducted distressed LMEs contributed to the dual-track default rate, down 50% from 36 LMEs in the twelve months through April 2025.

While outflows at US loan funds collectively topped $7 billion in Q1, US CLO ETFs have drawn nearly $6 billion of inflows YTD.

Proceeds will be used to finance the acquisition and installation of graphics processing units and other ancillary components that will be deployed under take-or-pay compute contracts.