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Credit Market Keeps Thawing With First Loan in Nearly a Month

  • Landry’s looks to break leveraged loan issuance deadlock
  • Broadcom leads U.S. docket on top of eight new deals in Europe
Warren Buffett

Warren Buffett

Photographer: Johannes Eisele/AFP via Getty Images

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Emboldened by the recent success of riskier bond offerings, the credit market is opening up to more cuspy borrowers, including near-junk rated companies and the first leveraged loan deal in almost a month.

Landry’s Inc., a restaurant and casino operator owned by Texas billionaire Tilman Fertitta, is looking to take out a $250 million secured term loan due October 2023. Broadcom Inc. and Ally Financial Inc. priced new bonds rated one step above speculative grade, and the high-yield market remained active with an offering from LifePoint Health that increased in size.