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PowerShares Senior Loan ETF Message Board

  • CJL72 CJL72 Jul 14, 2011 9:12 AM Flag


    PowerShares Senior Loan Portfolio:

    Last Quote:$ 24.87, +0.03, (+0.12%)

    In line with recent events; If you are interested, here is something to watch, and generally explains the funding.....although many deals are customized.....

    Began trading on NYSE_ARCA 3-3-11.....

    Profile and Index:

    Senior loans -- also called leveraged loans, syndicated loans, bank loans or floating rate loans -- are privately arranged corporate debt instruments that provide capital to a company and are syndicated to a group of banks and institutional lenders. The loans are typically secured by specific assets of the borrower such as property, plant, or equipment and are senior to all other outstanding debt obligations. Proceeds are often used to finance leveraged buyouts, mergers, acquisitions, stock repurchases and other transactions.

    The index consists of 100 loan facilities drawn from a larger benchmark -- the S&P/LSTA Leveraged Loan Index which covers more than 1,100 facilities. Loans eligible for inclusion in the index must be U.S. dollar denominated, senior secured first lien, with a minimum initial term of one year, and a minimum initial spread of 125 basis points over LIBOR at the time of issuance. The underlying index which is compiled, maintained and calculated by Standard & Poor's is rebalanced semi-annually and reviewed for deletions on a weekly basis.

    Enter BKLN and Get Info @ OTCBB.COM:

23.21+0.010(+0.04%)Sep 30 8:00 PMEDT