Secondary loan market starts new year flat and fairly quiet

By Sara Rosenberg

New York, Jan. 2 – The secondary market in general was relatively unchanged on Tuesday with low trading volume as market participants were returning from the holiday break.

“Orderly slow start to the day. People doing recon. High yield and equities were lower but that didn’t materialize in loans. Things are pretty much where they were at the end of last week,” a trader remarked.

For example, Iqvia Inc.’s term loan B-4 was quoted at par 3/8 bid, par 5/8 offered on Tuesday, compared to par 3/8 bid, par ¾ offered on Friday, another trader said.

Iqvia, a Danbury, Conn.-based provider of advanced analytics, technology solutions and contract research services to the life sciences industry, has been in the news as the Federal Trade Commission’s blockage of its acquisition of DeepIntent, a healthcare advertising platform, was upheld by a court on Friday.

On Tuesday, Nasdaq ended down 245.41 points, or 1.63%, and S&P 500 closed down 27 points, or 0.57%. Meanwhile, Dow Jones Industrial Average ended the day up 25.5 points, or 0.068%.

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