Leveraged liquidity cheers loan market despite short term high yield frustrations

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.

  • 25 Mar 2011

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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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

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1 Citi 117,520.50 339 11.05%
2 Bank of America Merrill Lynch 94,721.79 272 8.91%
3 JPMorgan 92,612.23 269 8.71%
4 Wells Fargo Securities 82,597.19 239 7.77%
5 Credit Suisse 69,442.99 183 6.53%