Leveraged loan CDS index to launch

A new CDS index on European leveraged loans, the iTraxx LevX, is expected to price on October 27 and start trading on October 30, according to Standard & Poor’s Leveraged Commentary & Data (LCD).

Initially based on first-lien notes of 35 credits, a subordinated index is expected to follow in early November, entitled LevX Sub series 1, again tracking 35 names but based on second-lien and mezzanine paper. This index will price on November 3 and start trading on November 6, according to LCD.

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