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 Citi 3,691 11 20.70
2 Morgan Stanley 2,420 6 13.57
3 Goldman Sachs 2,096 5 11.75
4 BNP Paribas 1,686 6 9.45
5 Barclays 1,565 4 8.78

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 40,734.72 129 10.87%
2 JPMorgan 33,785.84 96 9.02%
3 Wells Fargo Securities 31,464.27 90 8.40%
4 Bank of America Merrill Lynch 29,270.38 93 7.81%
5 Credit Suisse 23,189.41 72 6.19%