Global Leveraged Loan and High Yield Markets at Standstill as Debt Sales Collapse

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  • #39627
    Helmholtz Watson
    Participant

    The glaring instability of the world’s financial markets with interest rates soaring, global currency markets quivering as central banks aggressively
    [See the full post at: Global Leveraged Loan and High Yield Markets at Standstill as Debt Sales Collapse]

    #46238
    TradersCom
    Keymaster

    October 20 – Bloomberg (Jill R. Shah and Claire Ruckin): “The world’s biggest banks have already had to use about $30 billion of their own cash this year to fund loans for acquisitions and buyouts that they weren’t able to offload to investors. The lenders have been forced to fund at least 15 deals in the US and Europe as inflation and fears of a recession sap investor appetite for risky corporate debt. The total tally… could nearly double over the coming months as more deals are scheduled to close. While it’s not uncommon for banks to self-fund deals when market sentiment sours, the sheer amount of hung debt — including $3.9 billion for Apollo Global Management Inc.’s purchase of Brightspeed and more than $8 billion for a buyout of Nielsen Holdings Plc — is deterring banks from making new financing commitments.”

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