Tag Archives: leveraged loans
The Evolution of the S&P USD Select Leveraged Loan Index
Indices are constructed from components brought together by methodology and the market. Unlike stocks in an equity index, the constituents in the S&P USD Select Leveraged Loan Index are retired or reweighed as new loans are issued and existing loans are paid down. As a result, loan vintages from different years are mixed within the…
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Measuring USD Leveraged Loans for the Brazilian Market
The author would like to thank Sofia Lozada for her contributions to this blog. Introduction: The Challenge Brazilian institutional investors are increasingly looking beyond domestic markets in search of income. With local yields subject to monetary policy cycles and a concentrated domestic credit universe, global fixed income could offer diversification. Instruments with different risk drivers,…
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Leveraged Loan Market Snapshot
Amid growing uncertainty, small market shifts can have large impacts on companies with lower credit ratings like those found in the S&P USD Select Leveraged Loan Index. This index measures the performance of a liquid and diversified universe of USD‑denominated leveraged loans by tracking all fully funded term loans with a minimum facility size of…
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Measuring Direct Lending: Building Transparency in Private Credit Markets
Direct Lending Has Become a Core Segment of Private Credit Private credit has expanded in recent years, with the market reaching an estimated USD 2.28 trillion at year-end 2025 and projected to grow to approximately USD 4.5 trillion by 2030.1 Within this expansion, direct lending has emerged as the dominant strategy, reshaping how companies access…
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Exploring an Index-Based Path to Leveraged Loans
What’s the role of indices in the fast-growing leveraged loans market? S&P DJI’s Frans Scheepers and State Street Investment Management’s Marcel Benjamin explore how indexing works for leveraged loans and take a closer look at the S&P USD Select Leveraged Loan Index.
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The S&P USD Select Leveraged Loan Index: A Comprehensive Approach to the Leveraged Loan Market
The S&P USD Select Leveraged Loan Index is a new entrant in the leveraged loan landscape, developed to fill a critical gap in existing liquid leveraged loan index offerings that typically focus on the largest loans by market capitalization. This innovative index encompasses all USD-denominated fully funded term loans with a minimum facility size of…
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Understanding and Tracking Leveraged Loans
How are benchmarks like the S&P UBS Leveraged Loan Index and S&P UBS Western European Leveraged Loan Index helping bring transparency to one of the largest fixed income markets? Take a fundamental look at leveraged loans with Marco Pouw, S&P DJI’s Director of Fixed Income Indices.
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Looking at Trends in the S&P UBS Leveraged Loan Index
Leveraged loans are playing an increasingly prominent role within the high yield landscape, with data from S&P Dow Jones Indices showing that the U.S. leveraged loan market has grown from nearly USD 400 million to USD 1.5 trillion over the last decade.1 The expansion of the broader loan ecosystem has naturally increased the importance and…
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Full Circle: The Resilience of Leveraged Finance
After Q1 2025 began with positive momentum, Q2 has seen some of the largest bouts of volatility in the recent past. The April 2 tariff announcements sent markets on a series of extraordinary swings. On April 8, the S&P 500® was down 15% YTD and VIX® spiked to 52.33.1 However, positive trade developments that followed…
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Navigating Private Credit Liquidity Challenges with Indices
What’s driving insurance companies’ increased allocation to private credit? S&P Global Market Intelligence’s Lynn Bachstetter joins S&P DJI’s Frans Scheepers and State Street Global Advisors’ Bill Ahmuty to explore how indices like the iBoxx Liquid Leveraged Loan Index are helping insurers identify and navigate liquidity challenges in private credit markets.
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