Loan issuance fell 28% in 2009 to $547B on heavy refinancing of bank debt with high-yield bonds....

|By:, SA News Editor
Loan issuance fell 28% in 2009 to $547B on heavy refinancing of bank debt with high-yield bonds. Investment-grade loans fell 28% to $229B while leveraged loans slipped 19% to $239B. "The displacement of leveraged loans by high yield bonds is expected to continue into 2010 as most experts believe the rally in the high yield market will thrive so long as interest rates remain low."