European Chart of the Week: 9th December 2019
The leveraged loan market added another EUR 17bn of issuance in November, with new money purposes accounting for only EUR 4.5bn of this total. The new money share of loan issuance has trended lower this quarter, hitting its lowest monthly level of this year (26%) in November, well below the year-to-date figure of 53%.
On a year-to-date basis, leveraged loan and institutional loan new money volumes are down 12% and 18%, respectively, compared to the same period last year.
A decline in LBO loan volume of 31% this year has negatively impacted new money deal issuance. On a more positive note, nearly EUR 9bn of LBO loans are currently in the pipeline, offering an indication of near-term deal flow as we head into 2020.
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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