Leveraged loans frozen as market grapples with new normal

摘要

Participants in the US leveraged loan market are revising the landscape for deal-making in the midst of the coronavirus pandemic, which has rocked financial markets over the past month and brought new syndicated loan issuance to a halt. With new issuance frozen, mergers and acquisitions-related transactions are pending as bankers and investors grapple with a significantly different environment from which they originally committed to lend. Concerns over the pandemic have sent markets into a frenzy over the past month as many US businesses have closed their doors and ceased operations on government order.