Invesco PowerShares gets license for ETF on leveraged loan market

By Jennifer Chiou

New York, March 2 - Standard & Poor's announced that it has licensed the S&P/LSTA Leveraged Loan 100 index to Invesco PowerShares Capital Management LLC for the launch of the industry's first senior loan exchange-traded fund.

The index is designed to reflect the largest facilities in the leveraged loan market.

According to an agency release, the PowerShares ETF is expected to begin trading on Thursday on the NYSE Arca.

The S&P/LSTA U.S. Leveraged Loan 100 index seeks to mirror the market-weighted performance of the largest institutional leveraged loans based on market weightings, spreads and interest payments, S&P said. It consists of 100 loan facilities drawn from a larger benchmark, the S&P/LSTA Leveraged Loan index, which covers roughly 1,000 facilities and has a market value of more than $465 billion as of Dec. 31.

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