Dan Sherry is a portfolio manager on PineBridge Investments’ leveraged finance team, where he is responsible for managing US CLO portfolios. LFI recently caught up with Sherry to hear his views on a range of loan market topics, including his outlook for M&A activity and defaults this year.
LFI: The loan market has begun to thaw over the last couple of weeks. With respect to primary issuance, do you think the market may soon turn a corner, or is it your sense that arrangers and investors are still quite tentative?
Sherry: It will take more time for the loan market to get comfortable again with a broader range of credit profiles, although the market has certainly reopened for higher quality issuers. Spreads are a bit wider than they would have been before the recent volatility…
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