A $40 billion pile of leveraged loans is battered by big losses
“Barely noticed in a corner of the financial markets, leveraged loans originally worth about $40 billion are staging their own private meltdown.Loans tied to more than 50 companies have lost at least 10 percentage points of face value in just three months, according to data compiled by Bloomberg. Some have dropped a lot more, with lenders lucky to get back just two-thirds of their investment if they tried to sell.”
USAGOLD note: Another one of those quiet debt problems festering in the background. . . . .