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.

  • 28 Jul 2011

Recovery rates in Europe, which have been published in a report by Moody’s, were slightly lower than in 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 ...

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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 14,443 29 18.07
2 Bank of America Merrill Lynch (BAML) 8,264 27 10.34
3 Lloyds Bank 7,329 24 9.17
4 Citi 6,748 19 8.44
5 JP Morgan 5,220 8 6.53

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 117,261.12 337 11.07%
2 Bank of America Merrill Lynch 94,721.79 272 8.94%
3 JPMorgan 92,612.23 269 8.74%
4 Wells Fargo Securities 82,597.19 239 7.80%
5 Credit Suisse 69,442.99 183 6.55%