In 2011, $21bn of leveraged loans will mature, according to Standard & Poor’s Leveraged Commentary & Data. That figure rises to $73bn, $146bn and $219bn, respectively, in the following three years.

Among the companies that have done so-called “amend-to-extend” deals in recent months are SunGard Data Systems, VNU, UPC, Cablevision and Smurfit Kappa.

LCD’s index of loan prices in the secondary market recently hit 86 cents on the dollar, up from a low around 63 cents in December.