US Leveraged-Loan Market Erupts With $61 Billion of Deals

About $61 billion of US leveraged loans hit the market Monday, the second-most ever according to data compiled by Bloomberg, as junk-rated borrowers continue rushing to lower borrowing costs by repricing existing loans.

There were 33 launches as of 3 p.m. in New York, with all but six of them repricings. The largest was a $7.57 billion offering for medical supplies giant Medline, the bulk of which will be used to reprice a term loan.