Rowan recalls that 25 years ago, the idea of levered loans trading seemed impossible because every loan was different.
“Twenty five years ago, the notion that levered loans would trade was a fantasy. How could they trade? Every loan was different.”
Rowan recalls that twenty-five years ago the idea of tradable levered loans seemed impossible due to lack of standardization.
“Twenty five years ago, the notion that levered loans would trade was a fantasy. How could they trade? Every loan was different. Every company was private. There were no benchmarks.”