AFME Leveraged Loan and High Yield Report, First Quarter 2017



June 1, 2017

AFME Leveraged Loan and High Yield Report, First Quarter 2017

About the Report

Done in partnership with AFME High Yield Division, the AFME Leveraged Loan and High Yield report is a quarterly report on the trends and statistics of the European leveraged finance market, including both high yield loans and leveraged loans. Issuance volumes, credit trends, global comparative issuance data, market highlights and commentary are included.

For more information on AFME's efforts in the European leveraged finance sector, please visit AFME.

Summary

European leveraged finance issuance (leveraged loans and high yield bonds) increased in 1Q'17 to EUR 86.5 billion, a 50.5% increase from EUR 57.4 billion in 4Q'16 and almost double the EUR 43.5 billion issued in 1Q'16. This was the highest quarterly issuance since 2Q'14. The quarterly increase stems from the surge in high yield bond issuance, which increased by 136.8% in the first quarter of 2017 while leveraged loan issuance increased by 19.9%.

Leveraged loan issuance, including first lien, second lien, and mezzanine financing, increased to EUR 50.8 billion in the first quarter of 2017, up 19.9% q-o-q (EUR 42.4 billion in 4Q'16), up 54.2% y-o-y (EUR 33.0 billion in 1Q'16). This was the highest quarterly total since the financial crisis.

Primary high yield issuance in 1Q'17 totaled EUR 35.7 billion on 76 deals, a 136.8% increase from 4Q'16 (EUR 15.1 billion on 41 deals) and a 237.4% increase from 1Q'16 (EUR 10.6 billion on 22 deals).


AFME

  • Director, Capital Markets: Gary Simmons
  • Manager, Research: Julio Suarez

SIFMA Research

  • Managing Director, Director of Research: Kyle Brandon
  • Senior Associate: Justyna Podziemska

Downloads

Get the free Adobe Reader to view these documents

Disclaimer

The Securities Industry and Financial Markets Association (SIFMA) prepared this material for informational purposes only. SIFMA obtained this information from multiple sources believed to be reliable as of the date of publication; SIFMA, however, makes no representations as to the accuracy or completeness of such third party information. SIFMA has no obligation to update, modify or amend this information or to otherwise notify a reader thereof in the event that any such information becomes outdated, inaccurate, or incomplete.


Join SIFMA

Learn How ›

Contact

Email: research@sifma.org
Call: 212.313.1200

Research Reports

Monthly analysis of critical issues affecting the financial services industry.

Copyright Permission Request

Subject to our Terms of Use; for use of data requests:

 

Featured Events

C&L St. Louis Regional Seminar 2017

Tuesday, June 20, 2017

Senior Investor Protection Denver Regional Workshop

Thursday, July 27, 2017

Denver, CO

Global Tax Reporting Symposium 2017

October 3-4, 2017

SIFMA Conference Center, New York, NY

CAS Global Corporate Actions Forum 2017

Thursday, October 05, 2017

Wyndham Boston Beacon Hill, Boston, MA

Market Data