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CREDIT COMMENTARY
Oct 27, 2017
IHS Markit European loan volume survey
The European loan market is down significantly in the third quarter of 2017 - overall figures decreased by 25% from €13,377m in Q2 to €10,045m in Q3. The year on year figures are also down 17.6% from €12,202m in Q3 2016.
- Leveraged loan volumes in Western Europe constituted 78% of the volumes, which is up from the 74.2% observed in the previous quarter - and way up from the 64.8% in Q3 2016. Of the 78% this quarter, 65.3% was conducted on LMA Par documentation, compared against 12.7% on LMA Distressed documentation.
- European Investment Grade loan volumes represented 11.8% of the total, which is similar to the 11.1% seen last quarter, but much lower than the 23% we recorded in Q3 2016.
- Emerging Market figures (Eastern Europe, Middle East and Africa) represented 10.3% this quarter, which was down from the 14.6% we saw last quarter, and also down on the 12.2% we saw at this time in 2016.
Rory McSwiggan, SME Principal at IHS Markit
Posted 27 October 2017
S&P Global provides industry-leading data, software and technology platforms and managed services to tackle some of the most difficult challenges in financial markets. We help our customers better understand complicated markets, reduce risk, operate more efficiently and comply with financial regulation.
This article was published by S&P Global Market Intelligence and not by S&P Global Ratings, which is a separately managed division of S&P Global.
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