Markit European loan volume survey
The European loan market continued its upwards trajectory, albeit ever so slightly. Total volumes in the first quarter of 2015 rose by just under 4% to €15.457bn. The figure was quite similar to the €15.044bin recorded at the beginning of 2014. Highlights include:
- Leveraged loan volumes (Western Europe) constituted only 67% of the total volume in the first quarter, compared to 82% last quarter. 56% of the total was conducted on Loan Market Asociation (LMA) par documentation versus 11% on LMA distressed documentation
- European investment grade loan volumes represent 21% of the total, up significantly from last quarter's share of 13%
- Emerging market figures were also up significantly in Q1 (Eastern Europe, Middle East and Africa), growing three fold to represent 12% of the total from 4% last quarter
- Overall European leveraged loan volumes rose in Q1; the fourth consecutive quarter of volume growth
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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.