Debt Capital Markets News: August 2013

Deloitte Corporate Finance LLC


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The August 2013 issue of Debt Capital Markets News includes the following highlights:

  • Lack of M&A activity gives way to recapitalization and refinancing - Refinancing activity, driven by favorable market conditions, continued to dominate new leveraged loan issuance, representing 56% of new loan volume in the first half of 2013 compared to 47% of total volume in 2012.
  • Leveraged loan volume in the first half of 2013 outpaces the first half of 2012 - Institutional volume rose substantially in the first half of 2013 and is on pace to exceed $450B by the end of 2013; this is the highest level since 2007.
  • After a slow 2012, middle market loan volume advances in the first half of 2013 - Total middle market loan volume increased 45% in the first half of 2013 compared to the same period in 2012. Although 2013 looks more promising than 2012 for middle market loans, volume remains below pre-crisis levels.

Source: S&P Leveraged Commentary and Data.

Learn more by downloading Debt Capital Markets News.