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Free Research – 17th Annual European Leveraged Finance & High Yield Conference

S&P Global was pleased to present recently its 2018 European Leveraged Finance & High Yield Conference: How Close Are We To the Top Of The Cycle?

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The conference featured a presentation by LCD’s Taron Wade regarding the intense institutional investor demand that is shaping the speculative-grade debt markets. The charts backing that presentation detailed trends and developments driving today’s market, including

  • European M&A activity, by specific use of proceeds
  • Trends in buyouts
  • Direct lending’s effect on the leveraged finance market
  • Yields on leveraged loans, Europe vs U.S.
  • The accelerating European CLO market
  • New issuance vs investor demand, European leveraged loan market
  • The increasing reliance on cross-border loan financing
  • The equity component of LBO financings (above)
  • … and, of course, the surge of covenant-lite loan issuance

The presentation also includes a panel discussion on risk of disruption in the credit cycle, a conversation regarding green investing, and a separate panel discussion on structural features and/or risks in today’s finance market.

You can download the slides backing Taron’s presentation here.

You can view the conference here. 

Both are complimentary, courtesy S&P Global Market Intelligence and LCD.

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LCD comps is an offering of S&P Global Market Intelligence. LCD’s subscription site offers complete news, analysis and data covering the global leveraged loan and high yield bond markets. You can learn more about LCD here.

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