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Get a loan of this: 9fin's European leveraged loans H1 2024 report is here! 📂 H1 2024 saw €103bn in term loan B issuance, up 15% from 2021. Key takeaways: 📌 Repricing: Margins cut by ~60bps; another €19bn could reprice soon. 📌 Tighter single-Bs: Q2 margins at 410bps, down from 465bps in 2023. 📌 LBO surge: Leveraged buyouts up, though new money is limited. Elevate your market knowledge with 9fin's expert analysis. 🚀 Access the full report here — https://lnkd.in/eYhatt-9

Competition Continues for Buyout Financing. 2024 is shaping up to be a stronger one for the broadly syndicated loan market (BSL) compared to 2022 and 2023. Attractive yields and spreads are causing a strong demand for floating rate transactions, which has helped to enable a resurgence of activity amongst the largest group of buyers in the BSL market – CLOs. Prices are strong, too; according to JPMorgan, on 24 April for example, 46.8% of the US leveraged loan market was trading above Par, with a further 29% trading between 99-Par. Reported by Amber Quinn. For Bloomberg users: https://lnkd.in/eDmfSiV9 #EMEA #LeveragedLoans #Loans #CapitalMarkets #SyndicatedLoans #HighYield #Bonds #DebtCapitalMarkets #USD

"Traditional lenders are so keen to win leveraged buyout financing that some are pitching for subordinated debt deals — the riskiest type of underwriting which they mostly avoided during a bruising past few years. At least one bank is offering payment-in-kind options, which allow interest payments to be deferred, and others are talking to borrowers about so-called pre-capitalizations, which give companies financing before a deal has even gone on the block, according to people familiar with the matter. Banks are hungry to win the generous fees from buyout deals after a period marked by having debt stuck on their balance sheets, which allowed direct lending powerhouses like Blackstone Inc. and Ares Management Corp. to beat them at their own game. Now, with broadly-syndicated loan and junk-bond markets roaring back, it’s easier for banks to sell on debt, and they’re often able to beat private lenders on price. " https://lnkd.in/e4F-ZTzX

Leveraged Finance Weekly Review 14 - 20 June Repricings have continued to impact the leveraged loan space this week, however a number of other deals, including buyouts, have been syndicated and priced. 37 leveraged loan deals priced this week, split between 23 in North America and 14 in Europe, with 22 of these deals being repricings. 10 high yield bonds also priced, split between five dollar and five euro deals. Reported by Jack Unwin, Adam Stubbs and Abraham González. For Bloomberg users: https://lnkd.in/eDmfSiV9 #EMEA #LeveragedLoans #Loans #CapitalMarkets #SyndicatedLoans #HighYield #Bonds #DebtCapitalMarkets #USD 

Buyout deals are back, read our weekly review below! 🔽

The latest on Leveraged Buyouts (LBOs) reveals the challenges faced in 2023 due to Fed rate hikes and soaring borrowing costs. A record-breaking 50% equity contribution was required from private equity sponsors, impacting overall leverage on these deals. Despite the hurdles, LBO loan yields reached new highs, attracting better-quality issuers to the market. Find out more about interest coverage and historical metrics in LCD's Rachelle Kakouris' analysis. For the full report, visit: https://lnkd.in/eWZfxqVG #FinanceNews #LeveragedBuyouts #HighYieldBonds #PrivateCredit #FinancialTrends

How did investor pushback impact European leveraged loan covenants in 2023? Subscribe to read our report on how the increased frequency of pushback in 2023 have impacted European leveraged loan covenants. Read the full article: https://ow.ly/68OR50Qwr0E #leveragedfinance #leveragedloans #covenants

LFRD H1 Wrap 2024 The leveraged loan market has had a very strong first half of 2024. Volumes have reached USD855.98bn equivalent from 747 deals in H1, nearly four times more than H1 2023’s USD217.59bn equivalent from 308 deals. Over half of these volumes, however, were for repricing existing deals, which have continued unabated in Q2, including a record USD121.02bn-equivalent from 82 repriced deals in May. Repricing figures have reached USD437.75bn equivalent from 316 deals in H1 2024, as supply has not matched the ferocious demand for new money deals. Reported by Jack Unwin and Adam Stubbs. For Bloomberg users: https://lnkd.in/eDmfSiV9 #EMEA #LeveragedLoans #CapitalMarkets #SyndicatedLoans #HighYield #DebtCapitalMarkets #USD #TLB 

Leveraged Finance Weekly Review After an initial trickle of deals last week following the August break, the leveraged loan and high yield bond market exploded into life this week. This Monday for example (11 September) saw over a dozen leveraged loan launches, with that momentum continuing throughout the week. 11 leveraged loans have priced this week, split between ten in North America and one in EMEA. Meanwhile 13 high yield bonds priced, as that sector displayed levels of activity not seen for some time. Reported by Jack Unwin and Adam Stubbs #EMEA #LeveragedLoans #Loans #Markets #SyndicatedLoans #USD For Bloomberg users: https://lnkd.in/eDmfSiV9

#Leveraged loan issuance supporting dividend recapitalizations is running at a record pace. The persistent lack of net supply against surging investor demand has pushed borrowing spreads to multiyear lows across the credit quality spectrum. With those syndicated loan market stars aligned, #private equity sponsors are rushing to extract dividends from #portfolio companies, especially as the traditional #exit environment remains challenging. https://lnkd.in/gtiA8ifC