Reference DataLoans

Markit provides a centralised source of leveraged loan reference data, including covenant and corporate action data, to support transaction processing, risk management and market surveillance.

Customers

  • CLO managers
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  • Traditional loan funds
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  • Banks
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  • Hedge funds
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  • Asset managers
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  • BDCs
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  • Trustees
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  • Fund administrators
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  • Insurance companies
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  • Pension funds

Statistics

  • 7,900+ active loans with validated credit agreement data
  • 4,500+loans with current contract data

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Product Summary

The loan reference data to support the monitoring of portfolios, risk and market activity is often spread across multiple sources, including public filings, credit agreements and transactions. Market participants typically dedicate countless hours each month on manual processes to capture, aggregate and validate this data.

With coverage of more than 9,000 loans, we help reduce the time and resources required for data collection and management and support idea generation, market surveillance, compliance and security master control across the enterprise.

The dataset includes realtime corporate actions and granular credit agreement details, such as covenant schedules, pricing grids and prepayment rules, for private and public loans. Using our data, market participants can quickly assess protection and cures that are offered in credit agreements and identify covenant-lite assets based on any custom definition.

Data is sourced directly from credit agreements, agent notices and public filings and is validated and actively monitored for updates through the life of the loan. By converting data into easily consumable data fields, we enable direct integration into existing workflows and automated processing.

    Key Benefits

    • Data quality

      Loan data extracted from executed credit agreements, amendments and agent notices, with historical data available for custom data analysis based on global loan prepayment or performance characteristics

    • Efficiency

      Automated contract setup when settling trades in portfolio management systems

    • Market surveillance

      Active monitoring for data updates by Markit loan experts for improved accuracy

    • Distribution

      Available via web, XML feed or third-party platforms

    • Maintained through lifecycle

      Corporate actions, amendments and restructures tracked and maintained from preliminary price talks through maturity