T-Mobile, Delta Deals Signal an Opening in Leveraged Loan Sales
- Returns to more normal course of business after virus
- Prior deals offered double-digit yield more akin to distressed
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The U.S. leveraged loan market is springing back to life with new deals for T-Mobile US Inc and Delta Air Lines on deck for investors willing to take on risk.
T-Mobile kicked-off sales Monday for a $4 billion leveraged loan to back its merger with Sprint Corp. It is the biggest loan to launch since the Covid-19 pandemic roiled financial markets, and is the latest sign that things are edging toward normalcy.