Headline figures for buyout activity for Europe year-to-date show a gloomy picture, but some scrutiny of the numbers reveals some rays of sunshine on the horizon. Activity is down 16% year-on-year by value, to EUR 42.1bn from EUR 50.1bn while the drop is more pronounced,23%, when looking at the number of deals.
But when compared against 2017, which was a more typical year for activity instead of 2018’s bumper year, the combined value of such private equity-backed transactions is up18%. And versus 2016 the increase is even more pronounced, at 48%.
The next few months could also offer a flurry of large cap activity, with the Debtwire Par forward calendar showing over 15 jumbo deals (€1b-plus) possibly hitting the leverage finance market.
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Colm Doherty is Debtwire’s Global Head of Primary Market Analysis. He is responsible for leading the production of primary market analysis and reports focused on the leveraged loan and high yield bond markets. Prior to joining Debtwire, Colm was Director of Analysis at Thomson Reuters LPC covering leveraged loans, CLOs and high yield bonds.
Colm has a B.A. in Economics & Legal Science from National University of Ireland Galway and an MSc. in Accounting & Finance from Ulster University.
Colm Doherty is Debtwire’s Global Head of Primary Market Analysis. He is responsible for leading the production of primary market analysis and reports focused on the leveraged loan and high yield bond markets. Prior to joining Debtwire, Colm was Director of Analysis at Thomson Reuters LPC covering leveraged loans, CLOs and high yield bonds.
Colm has a B.A. in Economics & Legal Science from National University of Ireland Galway and an MSc. in Accounting & Finance from Ulster University.
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