Marlborough Partners, the independent debt advisory firm, today published its report on the European leveraged finance market for Q4’18.
The report, analysing data from a number of sources, shows UK leveraged loan volumes totalled €2.3bn in Q4’18; a 56% decline from the same period in 2017. However overall 2018 volumes reached €23bn, which was up 21% on 2017, with high volumes observed in H1 2018 primarily driven by several large landmark deals closing in the first half of the year.
The DACH region had a healthy 2018, with full-year issuance rising to 105 deals compared to 93 deals for 2017. The share of LBOs increased to 69% of total issuances (vs. 56% in 2017) while recaps, refinancings and add-on financings have decreased relative to last year. Debt fund activity was also strong, with funds providing 39% of financing for the DACH market in the year (vs. 30% in 2017).
The Q4 2018 Report also looks at market evolution in the European fund financing space. Kieran Welsh, Director in Fund Finance with over 10 years experience, has joined the team to bring his extensive market knowledge to Marlborough’s clients. He observes: “Whilst leverage facilities have traditionally been provided to credit funds and secondary funds to increase investment capacity and enhance returns, we are seeing an increasing number of buyout funds requesting these facilities”.
For further information, please contact:
David Parker +44 (0)203 053 3601 firstname.lastname@example.org
About Marlborough Partners
Marlborough Partners, based in London, Frankfurt and Madrid, provides specialist, independent advice to private equity firms, portfolio companies and corporates, on sourcing and structuring debt and other non-equity finance. Since 2003, the Marlborough team has advised on 252 completed transactions – from the simple to the highly complex – comprising €60bn of primary market debt issuance, waivers and amendments and loan restructurings in eleven European jurisdictions. For further information, visit www.marlboroughpartners.com