 Banks in the US have launched US3.4bn in leveraged loans backing mergers and acquisitions this month, reopening a market that was mainly available for companies seeking emergency funding related to the coronavirus pandemic. Four term loans are scheduled to price before the end of this month, and banks are offering investors juicy coupons and steep original issue discounts OIDs to sell the debt. Were beginning to see the term loan market open and see some of this service mergers and acquisitions MA;, said Peter Toal, the global co-head of fixed-income syndicate at Barclays. 