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 BNP Paribas 15,256 32 16.83
2 Bank of America Merrill Lynch (BAML) 10,179 30 11.23
3 Citi 9,751 23 10.76
4 Lloyds Bank 7,329 24 8.09
5 JP Morgan 6,580 10 7.26

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 RBC Capital Markets 251.51 1 25.00%
1 MUFG 251.51 1 25.00%
1 Credit Agricole CIB 251.51 1 25.00%
1 Bank of America Merrill Lynch 251.51 1 25.00%
Subtotal 1,006.02 1 100.00%