Credit Markets Update Q1 2024

Read more about the credit markets activity during Q1 2024

Credit Markets Update Q1 2024

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Opportunistic borrowers dominated the market during the first quarter of 2024 as new-issue spreads declined to multi-year lows amidst improved sentiment in the broadly syndicated loan market

  • First quarter new-issue leveraged loan volume reached $167.9 billion during the first quarter of 2024, a significant uptick from $72.0 billion in the same period in 2023, and surpassing the volume level during the first quarter of 2022
  • During the first quarter, sponsors focused their activity on refinancing and dividend recaps, recording $51.0 billion and $18.0 billion, respectively
  • Refinancing activity continued to be the main driver in first quarter volume with $86.1 billion printed, a strong increase from $31.4 billion during the same period last year
  • Extension and Repricing activity, which is not included in new-issue loan volume statistics, also recorded a new peak at $183.5 billion during the quarter

We hope you find this information valuable, and as always, feel free to reach out if you would like to discuss in further detail. To read the full report, download the PDF below.

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    Credit Markets Update Q1 2024

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