The Philadelphia Council for Business Economics
A Chapter of NABE
is pleased to present
Presentation: "The State of the U.S. Corporate Loan Market"
Meredith Coffey,
Senior Vice President, Loan Syndication and Trading Association
Meredith Coffey is Senior Vice President for Research, Communication and Membership for the Loan Syndications and Trading Association (LSTA). Ms. Coffey is a member of the senior leadership of the LSTA, and is responsible for analyzing current and anticipated market developments, helping the LSTA build strategy, providing commentary, and engaging market participants, press and regulators on issues and developments in the global loan market. Ms. Coffey and team are responsible for the LSTA’s research and analytics on the market. Ms. Coffey also is responsible for member relations and development so that the Association continues to develop programs and initiatives that are responsive to the needs of the market.
Prior to joining the LSTA, Ms. Coffey spent 15 years with Reuters LPC, a Thomson Reuters company, where she was Senior Vice President and Director of Analysis focusing on the loan and adjacent markets. She and her team were responsible for developing analytics and research, as well as providing market commentary. Additionally, Ms. Coffey has authored chapters in several books about the syndicated loan market and is a frequent speaker at industry events. She has undergraduate and graduate degrees in economics from Swarthmore College and New York University, respectively.
Description: In the past 18 months, the U.S. corporate syndicated loan market* has undergone the greatest dislocation of this generation. Secondary loan prices have declined precipitously, securitization has dried up, loan margins have increased dramatically, and corporate access to funding has constricted. Remarkably, all this has occurred at a time when corporate loan default rates still sit below their historic average. This presentation will review why the corporate loan market dislocation has occurred, how both banks and non-bank lenders are adjusting to a new paradigm, as well as what the next 6-12 months might hold.
*Definition of corporate syndicated loan market corresponds to that of the Shared National Credit Review. Reflects loans to corporates; loan size is at least $20 million, and there are at least 3 lenders in each loan.
Date: Wednesday, January 7, 2009
Time: 1:00 pm - Presentations begins
Place: Federal Reserve Bank of Philadelphia
Directions
Ten Independence Mall (Seventh & Arch Streets),
Philadelphia, PA