European Chart of the Week: 11th November 2019
Leveraged loan issuance picked up to EUR 19.9bn in October from EUR 12.9bn in September, with the institutional loan market also posting a gain to EUR 14.8bn from EUR 10.7bn. Notably however, the more important new money portion slipped to EUR 8.3bn in October (from EUR 8.7bn) for leveraged loans and EUR 5.1bn (from EUR 6.9bn) for institutional loans.
Year-to-date, leveraged loan and institutional loan volumes are -5% and +4%, respectively, compared to the same period last year. Looking solely at the new money portion, volume is down 10% for leveraged loans and 17% for institutional loans. LBO loan issuance has been particularly hard hit this year, down 33% from last year to EUR 35bn. Looking ahead, buysiders expect that lower M&A activity recently will lead to lower loan volume in the near future.
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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