Post-crisis lev loan defaults see 71% recovery

The average recovery on European private equity-backed leveraged loans that defaulted between the fourth quarter of 2008 and the second quarter of 2010 was 71%, rising to 80% for senior debt only.

  • 27 Jul 2011

Recoveries rates in Europe, which have been published in a report by Moody’s, were slightly lower than the US, where the average was 75%.

Holders of junior debt in Europe had mean recoveries of 39% — with 59% for second-lien debt and 35% for mezzanine loans, which generally ...

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 BNP Paribas 13,295 25 18.56
2 Bank of America Merrill Lynch (BAML) 8,059 25 11.25
3 Lloyds Bank 6,979 21 9.74
4 Citi 6,256 16 8.73
5 JP Morgan 5,220 8 7.29

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 104,581.71 299 10.92%
2 Bank of America Merrill Lynch 86,347.40 249 9.02%
3 JPMorgan 80,990.39 237 8.46%
4 Wells Fargo Securities 77,934.65 225 8.14%
5 Credit Suisse 63,570.21 165 6.64%