Sourcing, Speed & Accuracy
Bloomberg’s real-time coverage model enables us to add new deals within 30 minutes of submission of source documents from the client or of reporting by Bloomberg News.
- Loans are updated based upon information received through our direct region-specific relationships with arranging banks, corporate borrowers and bank league table submissions.
- In 2014, on average, Bloomberg added new leveraged deals 20 days prior to their signing date.
- All loan-related updates are quality checked using Bloomberg’s proprietary quality assurance tools, thus ensuring field accuracy against more than 1,200 loan-specific business rules.
- Bloomberg’s Data team reviews and processes, within one hour of publication via EDGAR, data from more than 16,000 loan-specific documents annually. We capture more than 350 unique data points and provide easy and transparent access to covenant information with click-through technology.
- Competitor information is not used for updates to ensure the quality and integrity of our offering.
Transparency, Maintenance and Market Validity
The Financial Instrument Global Identifier, FIGI, is a global 12 digit alpha-numeric, randomly generated ID covering more than 250,000,000 active and non-active securities.
The nonprofit technology standards consortium Object Management Group voted unanimously to adopt FIGI as the standard methodology for identifying financial instruments; such as syndicated loans in CLOs.
With Bloomberg’s new standardized, open-source reporting, CLO asset managers now can easily identify loans and create comprehensive reports to help investors better understand the performance of their investments.
Over 11,000 active public S&P CUSIPs are captured and attached to the related loans on Bloomberg.
As part of our maintenance process, loans are updated and/or reviewed numerous times throughout their life cycle. Amendments are processed as they are disclosed. Amendments are processed as they are disclosed, resulting in more than 41,000 unique updates (over one million data points) to existing loans in 2015.
All relevant and publicly available information is attached to the related loan description page, enabling the user to quickly and easily access historical news stories as well as more than 6,000 credit agreements, amendments and other documentation directly related to the loan.