Standard & Poor’s (S&P) has provided the license of the S&P/LSTA Leveraged Loan 100 Index to Invesco PowerShares Capital Management for the launch of the industry’s first senior loan ETF. The ETF, which may begin trading March 3, 2011, will be listed on the NYSE Arca.
The S&P index comprises a group of the 100 largest and most liquid loans from borrowers including Bausch & Lomb, CIT, Ford Motor and the Las Vegas Sands casino, adds Financial Times. The S&P/LSTA (Loan Syndications and Trading Association) Leveraged Loan Index covers nearly 1,000 facilities.
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