Friday, September 28, 2012

Open window: Leveraged finance market sets records for 3Q volume ...

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In the third quarter, the leveraged loan market managed to shake off late-spring jitters?stemming from Europe, and new-issue volume climbed to $114 billion, from $88 billion between April and June.

That is the highest third-quarter figure on record. The capital markets usually take a time-out in August, but that was not the case this year. With the window open, $20 billion of loans were issued in August,?another historical high.

The story was the same in the institutional segment, where volume rose to $81 billion ? also a high for the third quarter ? from $52 billion in the second quarter.

his analysis is taken from a longer?complete LCD News story. Also in the analysis:

  • Annual leverage loan volume
  • Change in outstanding loans and inflows
  • High-yield takeouts
  • S&P/LSTA Leveraged Loan Index returns
  • Average new-issue yield to maturity for leveraged loans
  • Average new-issue offer price
  • Covenant-lite volume
  • Leveraged loan M&A volume
  • Leveraged loan PE-backed dividend volume
  • Monthly volume
  • Institutional forward calendar
  • Institutional M&A forward calendar
  • Average bid of LCD?s flow-name composite
  • Average new-issue yield to maturity
  • Quarterly high-yield volume
  • Annual high-yield volume
  • Leveraged finance volume


? Steve Miller

Source: http://www.leveragedloan.com/open-window-leveraged-finance-market-sets-records-for-3q-volume/

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