Debtwire Middle-Market – 7/25/2022

Jumbo loan buy-out financings remain prevelant
amid choppy secondary market


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Source: Debtwire Par

Leveraged loan and high-yield bond issuance backing buy-outs exploded in 2021, increasing 95% over the 2020 figure to set a new annual record of USD 240.3bn. Leveraged loans accounted for USD 212.7bn of issuance, up 98% from 2020, while HY bonds made up the remaining USD 27.6bn for a year-over-year (YoY) gain of 75%. Issuance has not kept pace in the first half of 2022, with institutional loans issued to support buyouts down 11% YoY to USD 69.4bn, and high yield bond volume down 25%, to USD 9.1bn.