Leveraged liquidity cheers loan market despite short term high yield frustrations

25 Mar 2011

Bankers and investors in the leveraged loan market said this week that frustrations over a lack of primary deal supply should not cause extreme alarm, despite three further LBO names — Ontex, Phones 4U and Kabel BW — plumping for the high yield bond market.

Instead, the growth of the leveraged space caused by two fully-functioning products should be what the market is aiming for, said market participants.

And although investors complain about declining margins and bankers express concerns that the loan pipeline is bare, a contrast is forming between the short and long-term ...

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