"Typically, you'd hear about a refinancing beforehand and be asked to invest, but in this case the loan just left the institutional market altogether," said George Goudelias, a portfolio manager at Seix Investment Advisors. Banks Apply Lever to Cash Positions(PDF)
"You don't want to buy the entire market from a new issuance standpoint, you want to be selective," said Brian Nold, of Seix Investment Advisors, who co-manages the $504 million RidgeWorth High Income Fund. "Given how busy it's been, it does tend to overwhelm the investor base at times." Leveraged Finance - Investors Once Shy of New Issues Regaining Interest Amid Turmoil(PDF)