Debt Capital Markets News: August 2013
Deloitte Corporate Finance LLC
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.