Leveraged-Loan Prices Plunge to Level Since January 2013
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Leveraged-loan prices dropped to a 21-month low as dealmakers plan to raise about $87 billion of the speculative-grade corporate debt for acquisitions.
Prices fell to 96.96 cents on the dollar today, the lowest since Jan. 4, 2013, according to the Standard & Poor’s/LSTA U.S. Leveraged Loan 100 index. They’ve tumbled from a peak this year of 99.1 cents at the beginning of July, data from the index show.