LPC: Low-rated companies fuel record US syndicated lending

Low-rated companies, rushing to slice borrowing costs with interest rates low and demand for higher-yielding assets elevated, drove US leveraged lending to a first-half record and in turn propelled total US syndicated loan issuance to an all-time high for any half-year period.

The US$732.2bn of leveraged loans issued in the first half, a 92% spike above the US$380.7bn during the same time a year ago, boosted overall syndicated volume to US$1.22trln, according to Thomson Reuters LPC.

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