U.S. leveraged loan issuance may hit $1 trillion in 2014, the second-highest level on record, following the all-time high $1.14 trillion issued in 2013, according to loan market participants surveyed in Thomson Reuters LPC's Quarterly Lender Survey. Issuers will continue to take advantage of low borrowing rates and robust loan demand to cut costs and extend maturities, according to banking sources. However, issuance is expected to expand from repricing and refinancing into other uses of proceeds, including mergers and acquisitions (M&A).Nearly 70 percent of loans were earmarked for refinancing or repricing in 2013."With the maturity wall having been pushed out, and a lot of the opportunistic refinancing having occurred, it's doubtful we'll reach 2013 highs," said Leland Hart, head of the bank loans team at BlackRock. "But that said, it's easy to continue to refinance loans, and it's nice to see that M&A is starting to pick up, and that should provide a new source of fresh capital needs from borrowers."Enhanced credit profiles, an uptick in capital expenditures from low levels in 2013 and a low default environment are also expected to support another year of healthy loan issuance.
Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI traded higher by 0.59% or $0.22/share to $37.75. In the past year, the shares have traded as low as $29.33 and as high as $38.73. On average, 763840 shares of TRI exchange hands on a given day and today's volume is recorded at 217111.
Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI traded higher by 0.22% or $0.09/share to $41.01. In the past year, the shares have traded as low as $29.03 and as high as $41.10. On average, 927260 shares of TRI.TO exchange hands on a given day and today's volume is recorded at 630055.
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