Robust investor appetite, cheap borrowing costs push U.S. leveraged finance volumes higher - Debtwire

Robust investor appetite, cheap borrowing costs push U.S. leveraged finance volumes higher

23 January 2018 - 12:00 am

Debtwire, the leading provider of expert news, data and analysis on global leveraged credit, today released its inaugural Leveraged Insights Report and found that strong investor appetite, low volatility and cheap borrowing costs pushed U.S. leveraged finance volumes sharply higher in 2017. The report itself features an overview of the most recent and relevant trends impacting leveraged loans, high yield bonds, covenants and CLOs all in one place. Produced by a team of experts, the report incorporates a combination of private and public data and features more than 200 slides of crucial analysis mined from a vast leveraged finance network.


See what matters in Primary Issuance

  • Covenant protections weakened and leverage volumes surged in an extremely borrower friendly market
  • Refinancing activity dominated while event-driven deal volume also posted healthy gains
  • The CLO market powered ahead with new issuances, the second highest on record


Debtwire’s Leveraged Insights Report provides valuable commentary on key segments and activities at a major turning point in global debt markets,” said Colm “CJ” Doherty, global head of Primary Market Analysis for Debtwire. “With the Federal Reserve expected to continue on its path of raising interest rates in 2018 and other central banks potentially moving towards starting the normalization of monetary policy, it is important to understand the different perspectives that shape our global markets.”


This report includes access to all underlying data, powered by Debtwire‘s new Primary Issuance Database, Primary ID.


Primary ID makes it easy for users to explore and evaluate information across the entire loan and high yield bond market to gain a comprehensive understanding of pricing and fee details, maturity profiles and guarantors, sponsors, legal advisors, and bank groups. It provides unique visibility into evolving transactions from early market soundings to final pricing, easy to navigate real-time pipeline tracking, and customized global league tables across loans and bonds.


The customized global league tables feature trending data and analysis, including these key findings:

  • Refinancings and repricings dominated deal flow and this was evident in the share of deals led by the top banks
  • JP Morgan was top North American high yield bond bookrunner, while Bank of America Merrill Lynch led the way for leveraged loans
  • Kirkland & Ellis took the number one spot as top issuers legal counsel in high yield, with Cahill Gordon & Reindel leading the manager’s legal counsel tables
  • Simpson Thacher & Bartlett was top issuer legal counsel for leveraged loans and lead bank’s legal counsel was Cahill Gordon & Reindel. Both firms managed to command a higher share of repricing activity than the broader market.


Primary ID, the latest offering from Debtwire Data, is a dynamic tool for any professionals involved in leverage finance,” said Sadaf Khan, global data manager for Debtwire. “It takes information previously spread across multiple sources and consolidates the data in a unified, easy to use platform that also includes the unparalleled analysis that Debtwire is known for.”


About Debtwire: 
Launched in 2003, Debtwire transformed the leveraged credit market and quickly became the leading provider of expert news, data and analysis on global leveraged credit. Its end-to-end coverage goes behind the scenes from primary issuance to the first sign of stress through restructuring and beyond. With global breadth and local depth, Debtwire’s award-winning editorial, research and legal analyst teams produce original content that helps subscribers make more informed decisions. Subscribers trust Debtwire – the pioneer in the market – for comprehensive coverage across geographies, companies and asset classes. 


For more information and/or to speak with C.J. Doherty or Sadaf Khan, please contact:


CJ Doherty
Global Head of Primary Market Analysis
[email protected] 


Sadaf Khan
Fixed Income Group Global Data Manager
[email protected]
00 852 2158 9617