Market commentary and interactive data tool, offering insights into leveraged loan and high yield bond market trends.

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Leveraged Finance Commentary

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Global High yield bonds North America Western and Southern Europe Asia-Pacific (excl. Japan) 04 Dec 2023

High yield issuance rallies in Western markets

High yield bond issuance in the US and Western Europe shows strong year-on-year gains, but challenges in the real estate sector weigh on APAC activity

M&A (excl. buyouts) 29 Nov 2023

Whole-business securitization on the M&A radar

Whole-business securitization financing has been traditionally used to lower general corporate debt costs and sometimes used to recapitalize companies. Now, dealmakers are exploring whether the structure can also be applied in M&A transactions

Asia-Pacific (excl. Japan) 27 Nov 2023

Vietnam: A new frontier in APAC capital markets

Vietnam’s capital markets are evolving rapidly, with strong economic growth driving the development of increasingly sophisticated financing options for a widening pool of borrowers

Global Leveraged loans North America Western and Southern Europe Asia-Pacific (excl. Japan) 20 Nov 2023

Loan markets remain challenging, but green shoots emerge

Loan issuance slowed in all key regions during the first nine months of 2023, but after a tough year there are signs that market conditions may be improving

Latin America and Caribbean 16 Nov 2023

LatAm debt markets ready to rebound

After a slow first half, the outlook for Latin American debt markets is improving as inflation cools and interest rates stabilize

Private credit 12 Oct 2023

How private credit funds are dealing with distress

Many private credit funds are steering portfolios through a downturn for the first time. Borrowers are keeping a close eye on how debt managers are reacting when company balance sheets come under pressure

Global High yield bonds North America Western and Southern Europe Asia-Pacific (excl. Japan) 05 Sep 2023

US high yield markets spring to life

High yield bond activity rallies in the US as borrowers pivot away from pricier leveraged loans, but European and Asian markets remain challenged

Leveraged loans Restructuring 24 Aug 2023

Term loan C in the spotlight

In debt markets characterized by tighter liquidity and cautious lenders, term loan C debt is providing borrowers with essential liquidity

Global North America Leveraged loans Western and Southern Europe Asia-Pacific (excl. Japan) 15 Aug 2023

Subdued macro conditions shelve major loan activity

Loan issuance across all major jurisdictions saw year-on-year double-digit declines during the first half of 2023, as high inflation and rising interest rates continued to weigh on loan activity

Leveraged loans Asia-Pacific (excl. Japan) 28 Jul 2023

Flexibility is key: Australia’s leveraged finance market rises to the challenge

Sponsors hope increasing competition and the flexibility of Australia’s leveraged finance market will provide increasing optionality during challenging times

Direct lending 27 Jul 2023

Public-to-private deals offer a bright spot in flat M&A market

Private equity buyout activity has slowed in the face of macroeconomic headwinds, but public-to-private transactions have shown little sign of slowing down

Western and Southern Europe NPLs 25 Jul 2023

Resilient Italian economy keeps non-performing loans in check

Expectations of a surge in non-performing loans in Italy have failed to materialize, with the country’s banking system and economy holding firm in the face of macroeconomic volatility