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 Bank of America Merrill Lynch (BAML) 1,284 2 30.09
2 Barclays 633 1 14.82
3 BNP Paribas 509 1 11.91
4 Citi 467 1 10.94
5 Morgan Stanley 455 1 10.66

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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  • Today
1 Citi 9,235.10 31 12.19%
2 Barclays 7,853.42 22 10.36%
3 Bank of America Merrill Lynch 7,473.95 24 9.86%
4 JPMorgan 7,225.34 25 9.54%
5 Wells Fargo Securities 6,258.35 24 8.26%