European High Yield Association: European emerging market issuance at €4.1 billion

By Jennifer Chiou

New York, Aug. 20 - European High Yield Association said in a report that European emerging market bond issuance was €4.1 billion in the first half of the year.

European High Yield said that market conditions are a large contributing factor to depressed investor appetite for aggressive non-traditional deal structures.

There are fewer leveraged buyouts and other acquisition debt financing, including private equity sponsored deals with leveraged loan LBO and recap volumes falling steeply in the first half of this year to 69% and 94.5%, respectively, compared to the same period last year.

The report, which for the first time reported emerging markets issuance separately, added that these market conditions are not expected to abate in the near term and issuance levels are forecast to remain muted.

The European High Yield Association, an affiliate of the Securities Industry and Financial Markets Association, is a non-profit trade association representing participants in the European leveraged loan market.

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