The high yield bond market isn’t the only corner of the debt universe to defy the traditional sleepiness of August this year and keep churning out deals—the leveraged loan and CLO markets have declined to take their summer siesta as well.
Leveraged loan volume in August not only topped expectations but it proved to be the busiest August on record. Banks arranged $15.9 billion of new loans, including $11 billion of institutional tranches, as of August 24, according to Standard & Poor’s Capital IQ LCD.
