Loans in $233 Billion U.S. Surge Top 2011 Levels

Loans obtained in the U.S. by speculative-grade borrowers have risen to $233 billion, surpassing 2011 levels as investor demand for debt with the highest claims on a company’s assets grew amid fiscal uncertainty and a struggling global economy.

Borrowers last month got more than $47 billion of the debt that was sold to non-bank lenders, such as CLO s and hedge funds, the most in 20 months, according to JPMorgan. Issuance for the year is now within 40 percent of the records set in 2007 and 2006, data from the lender show.

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