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U.S. Leveraged Loan Market Is Showing Signs of Sputtering

  • Loan prices are dropping, some deals are getting pulled
  • Companies that can wait to tap the market are holding back

The best-performing U.S. corporate debt market is showing a few cracks.

A $6.5 billion loan that helped finance the leveraged buyout of a Thomson Reuters Corp. unit is quoted at around 97.25 cents on the dollar, after being sold for just shy of 100 cents. The $5.05 billion of loans for KKR & Co.’s buyout of Envision Healthcare are now quoted at about 96.125 cents on the dollar, around two months after being issued at 99.75 cents.