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4min chapter
Libor's long goodbye
Behind the Money
The Hold Up in the Junk Loan Market
In the US, the leveraged loan market or junk loan market is more than a trillion dollars. At least $700 billion worth of these loans still needed to transition off LIBOR. Philip Stafford says there's been some tension between borrowers and lenders in this market. But he adds that going back into the market would have provided an opportunity to amend smaller loans as well as issue new ones linked to sofa.
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