AFME European High Yield and Leveraged Loan Report, 2012 Q1

European leveraged finance issuance (leveraged loans and high yield bonds) opened on a stronger note than in the last quarter of 2011, with EUR 45.5 billion issued in the first quarter of 2012, a fourfold increase from Q4’11 (EUR 9.3 billion) and a 17.0% increase from 1Q’11 (EUR 38.9 billion). The continued financial market strain from the sovereign debt crisis, weak macroeconomic backdrop, and bank capital ratio requirements continued to play out in the first quarter. Market share of high yield bond issuance was 41.1% in 1Q’12, compared to 39.7% in 4Q’11 and 54.1% in 1Q’11.

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.



  • Director, Gary Simmons

SIFMA Research

  • Managing Director, Director of Research: Kyle Brandon
  • Director: Sharon Sung