Loans see slight gain in final February session; primary slows to a crawl

By Paul A. Harris

Portland, Ore., Feb. 28 – As volatility generated by geopolitics and looming interest rate hikes continued to grip capital markets in the United States and elsewhere, bank loans ended the final session of February unchanged to up a touch, according to a market source.

Trading was extremely light, the source said.

A trickle of new issue news included a few details on $910 million of bank debt financing backing private equity group ECP's announced plans to acquire Restaurant Technologies, Inc. from Goldman Sachs Asset Management.

And Compass Power Generation, LLC announced plans to meet with lenders on Tuesday to discuss a proposed $650 million senior secured term loan.

Primary market news should pick up as the February-March crossover week progresses, the source said.

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