Secondary bank loan volume expected to increase by 20% in 2003

By Sara Rosenberg

New York, Oct. 28 - Bank loan trading volume is currently forecast to by 20% for full year 2003, said Donald E. Pollard, managing director and global head of the syndication loan group at Credit Suisse First Boston, during the Loan Syndications and Trading Association conference in New York Tuesday.

Investors with extra cash are now turning to the secondary loan market since they are not finding the necessary supply in the primary, Pollard explained.

This imbalance in supply and demand has partly been caused by the overall growth of institutional investors.

Other market reactions to the current market technicals include an approximate 50 basis points tightening of spreads this year and more aggressive structures on deals, he added.

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