NEW
YORK, Dec. 4, 2024 /PRNewswire/ -- S&P Dow
Jones Indices ("S&P DJI"), the world's leading index provider,
in collaboration with UBS, today announced the launch of the
S&P UBS Leveraged Loan Indices, previously known as the Credit
Suisse Leveraged Loan Indices, which measure the performance of and
provide insight on various global loan markets by leveraging
S&P Global Market Intelligence's industry leading reference and
pricing data for loans.
The S&P UBS Leveraged Loan Indices are designed to represent
and measure the investable universe of U.S. dollar (USD), Euro
(EUR) and British sterling (GBP) denominated leveraged loans.
S&P DJI will be the exclusive publisher, calculator,
administrator, and licensor of the index family. Spanning more than
2,000 indices covering USD 1.6
trillion in market value, this established suite builds upon
S&P DJI's expertise in index administration and
commercialization while combining UBS' complimentary loan indexing
solutions with S&P DJI's existing fixed income index
offering.
"Since the 1990's, the S&P UBS Leveraged Loan Indices have
served a critical role as a leading loan benchmark across the U.S.
and Europe, contributing to
greater liquidity, transparency and accessibility for market
participants," said Frans Scheepers,
Head of Fixed Income, Currency and Commodity Products at S&P
Dow Jones Indices. "As S&P DJI continues to see demand for
indexing solutions within the Leveraged Finance space, this suite
of indices is expected to remain a critical component of this
growth and further expand this ecosystem through loan benchmarking,
performance measurement and index-linked products."
The U.S. leveraged loan market has grown significantly over the
last decade, from nearly USD 400
million to USD 1.3 trillion,
as defined by the iBoxx USD Leveraged Loan Index, now rivaling the
U.S. high yield bond market. This has been alongside the growth of
the broader loan ecosystem, which includes index-linked products
and derivatives in the loan space.
Dushyant Chadha, Global Head of
Derivatives and Solutions at UBS, commented: "We are excited to
collaborate with S&P DJI to further develop the S&P UBS
Leveraged Loan Indices, the leading leveraged loan market
benchmarks for over 30 years. By capitalizing on the strength of
UBS' loans franchise and S&P DJI's position as a leading index
provider, our clients and other market participants can look to
these indices to continue to provide market leading insight and
price data for loans."
The launch of the S&P UBS Leveraged Loan Indices follows
S&P DJI's announcement in early November that it had reached an
agreement with UBS with respect to this suite of leveraged loan
indices. Following the successful completion of the transition
period, the indices, previously legacy Credit Suisse indices, are
being rebranded as the S&P UBS Leveraged Loan Indices. In
addition, S&P DJI's iBoxx USD Leveraged Loan Indices will also
be folded into the S&P UBS Leveraged Loan Index suite in
2025.
Looking ahead, S&P DJI and UBS plan to enhance the depth and
breadth of available leveraged loan index offerings to investors
and market participants globally to further expand potential use
cases within the broader ecosystem.
For more information about the S&P UBS Leveraged Loan
Indices, please visit: https://www.spglobal.com/spdji/en/.
For more information about UBS, please visit
https://www.ubs.com/us/en.html.
ABOUT S&P DOW JONES INDICES
S&P Dow Jones Indices is the largest global resource for
essential index-based concepts, data and research, and home to
iconic financial market indicators, such as the S&P
500® and the Dow Jones Industrial Average®.
More assets are invested in products based on our indices than
products based on indices from any other provider in the world.
Since Charles Dow invented the first
index in 1884, S&P DJI has been innovating and developing
indices across the spectrum of asset classes helping to define the
way investors measure and trade the markets.
S&P Dow Jones Indices is a division of S&P Global (NYSE:
SPGI), which provides essential intelligence for individuals,
companies, and governments to make decisions with confidence. For
more information,
visit https://www.spglobal.com/spdji/en/.
FOR MORE INFORMATION:
April Kabahar
Global Head of Communications
(+1) 917 796 3121
april.kabahar@spglobal.com
Alyssa Augustyn
Americas Communications
(+1) 773 919 4732
alyssa.augustyn@spglobal.com
Asti Michou
EMEA Communications
+44 (0) 20 7176 0311
Asti.michou@spglobal.com
Nick
Probert
Communications at UBS
nicholas.probert@ubs.com
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SOURCE S&P Dow Jones Indices