November 2013: US Leveraged Loan Market Analysis
In early November, new-issue activity surpassed the prior high of $535 billion from 2007. While the headline figure is in record territory, 2013 deal mix is more heavily opportunistic, with far fewer mega-LBO deals to drive acquisition-related activity.
November 2013: European Leveraged Loan Market Analysis
The European leveraged finance primary and secondary markets had a moderate month. Loan issuance was €2.3 billion in October 2013, while high yield issuance was €5.3 billion. Estimated inflows to European high yield funds for October are a gigantic €1.32 billion, bringing the estimated year to date number to €4.87 billion. A slew of CLOs are expected to price before the end of the year.
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