David Saitowitz News Today

(Bloomberg) -- Companies sold a record volume of leveraged loans last month, taking advantage of the cash chasing credit. A glance at recovery rates for defaults, however, highlights a growing risk in this debt. Most Read from BloombergHomebuyers Are Starting to Revolt Over Steep Prices Across USWall Street Billionaires Are Rushing to Back Trump, Verdict Be DamnedModi Set for Landslide Election Win in India, Exit Polls ShowSaudi Arabia Puts Wall Street on Notice to Set Up Shop in RiyadhTrump Is

Companies are rushing to take advantage of the booming leveraged loan market and issue new first-lien debt to help pay down the pricier obligations.

ICG, the global alternative asset manager, today announced the appointment of David Saitowitz as Head of US Liquid Credit. He will manage ICG’s US investment strategies focused on syndicated loans...