September 2012, US Leveraged Loan Market Analysis
 

September 2012, US Leveraged Loan Market Analysis

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The loan market rallied again during an unusually busy August, and by all accounts, is poised to produce a busy Fall season. ...

The loan market rallied again during an unusually busy August, and by all accounts, is poised to produce a busy Fall season.

Check out LCD's new, free web site, LeveragedLoan.com

http://www.leveragedloan.com

* Leveraged finance job postings
* Online Loan Market Primer
* LCD News
* Market Stats


Video presentation on our YouTube Channel:
http://www.youtube.com/watch?v=WvVEematgp4

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News, commentary, other leveraged finance info

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Contact: marc_auerbach@sandp.com

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    September 2012, US Leveraged Loan Market Analysis September 2012, US Leveraged Loan Market Analysis Presentation Transcript

    • TextUS Leveraged Finance Market Update September, 2012 Steve Miller - Managing Director
    • S&P/LSTA Index - Average Price97 95 93 91 89 2/11 4/11 6/11 8/11 10/11 12/11 2/12 4/12 6/12 8/12Source: LCD - Leveraged Commentary & Data
    • Visible Loan Flows$6B CLO Issuance Loan Mutual Flows$3B Text$0B-$3B-$6B 6/11 7/11 8/11 9/11 10/11 11/11 12/11 1/12 2/12 3/12 4/12 5/12 6/12 7/12 8/12 Source: LCD - Leveraged Commentary & Data, EPFR
    • High-Yield Takeout Activity $8B $6B $4B $2B $0B 10/11 11/11 12/11 1/12 2/12 3/12 4/12 5/12 6/12 7/12 8/12Source: LCD - Leveraged Commentary & Data
    • Average New-Issue Clearing Yield of First Lien Loans9%8%7%6% 5% 8/11 10/11 12/11 2/12 4/12 6/12 8/12Source: LCD - Leveraged Commentary & Data
    • Forward Calendar for M&A Loans $25B $17B $8B $0B 10/11 11/11 12/11 1/12 2/12 3/12 4/12 4/12 5/12 6/12 7/12 As of 9/5/12Source: LCD - Leveraged Commentary & Data
    • Loan Default Rate 12%10% 7%5%2%0% 12/98 8/00 4/02 12/03 8/05 4/07 12/08 8/10 8/12Source: LCD - Leveraged Commentary & Data
    • A few final points• Stars aligned for volume boom• CLO market strong• Macro risks to the forecast remain
    • Follow LCDwww.lcdcomps.comnews, analysis, research, archiveswww.linkedin.com/groups/LCD-Leveraged-Loan-Group-2092432LCD Leveraged Loan Group ...9,000+ contactswww.twitter.com/lcdnewsHeadlines, market chatterwww.facebook.com/lcdcomps/Daily Playbook, headlines, video analysis
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