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 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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1 Citi 12,356.92 41 13.22%
2 Bank of America Merrill Lynch 10,716.42 32 11.47%
3 Barclays 8,716.58 27 9.33%
4 JPMorgan 7,774.38 29 8.32%
5 Wells Fargo Securities 7,444.83 29 7.97%