Meisenzahl, Ralf R.; Niepmann, Friederike; … - 2020
We show that U.S. dollar movements affect syndicated loan terms for U.S. borrowers, even for those without trade … exposure. We identify the effect of dollar movements using spread and loan amount adjustments during the syndication process …. Using this high-frequency, within loan variation, we find that a one standard deviation increase in the dollar index …