Debtwire Middle-Market – 5/31/2021

Quarterly M&A/LBO share of institutional loan issuance improves in 2Q21 to-date


Download Data

Source: Debtwire Par

Institutional loans backing M&A and buyout activity have totalled USD 120.1bn this year to date, improving from just USD 78.7bn at this point last year as the coronavirus pandemic (COVID-19) largely kept the pipeline for buyout and acquisition financings closed. At USD 57.3bn through May, the 2Q21 figure looks set to surpass the 1Q21 total of USD 62.8bn.

May M&A/LBO issuance, at just USD 20.1bn, represents a significant shortfall from the USD 37.2bn surge in issuance in April, though that level of activity is an outlier that has not been matched since October 2018.