EQUITIES COMMENTARY
Oct 27, 2014
Markit European loan volume survey: Q3 2014 results
Q3 2014 / October 27 2014
The European secondary loan continues its positive momentum. Volumes in the third quarter rose to €14.42 billion, up 9% from last quarter and 7% higher than the same period last year. Highlights include:
- Leveraged loan volumes (Western Europe) constituted 78% of the total volume in the first quarter, with 63% of this conducted on Loan Market Association (LMA) par documentation versus 15% on LMA distressed documentation
- European investment grade loan volumes represent 12% of the total, down slightly from last quarter's share at 16%
- Emerging markets were also down slightly this quarter (Eastern Europe, Middle East and Africa) representing 10% compared to 14.5% last quarter
- Overall European leveraged loan volumes rose in the third quarter; the second consecutive quarter of growth in volumes
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This article was published by S&P Global Market Intelligence and not by S&P Global Ratings, which is a separately managed division of S&P Global.
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