LBO investors nervously await 2009 as defaults loom, turmoil continues

Europe’s leveraged loan investors are bracing themselves for a torrid 2009 as recently bought out companies limit their aims to surviving and ensuring they avoid defaulting on their debt.

  • 14 Oct 2008

“It will be a very hard time next year for people with portfolios,” said one institutional investor yesterday (Monday) at a European High Yield Association conference in London. “Among the businesses bought-out in 2006 and 2007, there are hardly any that have kept up with their forecasts.”

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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 %
  • Last updated
  • Today
1 Citi 40,734.72 129 11.55%
2 JPMorgan 32,938.92 93 9.34%
3 Wells Fargo Securities 30,371.96 86 8.61%
4 Bank of America Merrill Lynch 27,582.56 87 7.82%
5 Credit Suisse 22,692.50 70 6.44%