Borrowers Take Charge of Leveraged-Loan Market

  • Issuers reprice after hunger for yield meets an empty pipeline
  • ‘Not a whole heck of a lot we can do about it,’ say investors

Investors clamoring for yield at the mouth of an empty leveraged-loan pipeline are giving companies like Petco Animal Supplies Inc. and grocer Albertsons Cos. the upper hand. That’s allowing them to slash their borrowing costs just months after issuing the debt.

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