IHS Markit Loan indices strengthen on Thursday

By Sara Rosenberg

New York, May 1 – IHS Markit’s iBoxx USD Leveraged Loan indices (MiLLi) closed up 0.17% on Thursday, and its Liquid Leveraged Loan indices (LLLi) closed up 0.25%.

Month to date, the MiLLi is up 4.14%, and year to date it is down 10.10%.

The LLLi is up 2.83% month to date and down 8.80% year to date.

The average bid on Thursday in U.S. loans was 86.04, down 9.8% year to date.

According to the IHS Markit data, the top advancer on Thursday was McDermott International/Chicago Bridge’s April 2018 term loan B at 33.17, up from 28.55. Second was Cyxtera Technologies Inc.’s May 2017 covenant-lite second-lien term loan at 26.33, up from 23.70, and third was Patterson Cos.’ August 2015 covenant-lite term loan B at 85.67, up from 79.13.

Top decliners on Thursday were AP Exhaust/APC Aftermarket’s November 2019 covenant-lite term loan B at 21, down from 24.42, Hornbeck Offshore Services Inc.’s February 2019 covenant-lite second-lien term loan at 31.50, down from 35.33, and Jo-Ann Stores LLC’s May 2018 second-lien covenant-lite term loan at 19, down from 20.

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