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Elanco, Gardner Denver detail loan offers, funds sustain $238 million Friday outflows
By Paul A. Harris
Portland, Ore., Jan. 27 – The dedicated bank loan funds sustained $238 million of net outflows on Friday, the most recent session for which data was available at press time, according to a market source.
Bank loan ETFs saw $103 million of outflows on the day.
Actively managed bank loan funds sustained $135 million of outflows on Friday, the source said.
Yet in the wake of Friday's outflows, the bank loan funds remain in the green thus far in 2020, the source said.
The combined loan funds have seen $769 million of net inflows for the year to Friday's close.
Those year-to-date inflows, of course, pale in comparison to the $38.3 billion of net outflows which the dedicated loan funds sustained in 2019, the source pointed out.
Amid a heavy Monday news flow, Elanco Animal Health talked its $2,425,000,000 seven-year term loan B with a 200 basis points spread to Libor at 99.5 to 99.75.
And Gardner Denver Holdings, Inc. announced details on bank debt (Ba2/BB+) associated with its merger with Ingersoll-Rand Services Co.
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