Leveraged loan issuances in Europe, the Middle East, and Africa (EMEA) are set to “recover” during the second half of 2018, after a “slow summer”, Moody’s Investors Services said in a report released on Wednesday.
In July, the value of leveraged loans amounted to $13 billion, while bond volume reached $6 billion, the report, entitled "High Yield Interest: European Edition", added.
Combined, July and August loans and bonds issues stood at $22 billion, down from $26 billion during 2017.
The New York-based rating agency expected leveraged finance issues for the EMEA region to reach $230 billion by the end of 2018.
While August “was very quiet”, Moody’s associate managing director Peter Firth forecast “momentum of the first half of the year to resume in September, particularly for leveraged loans."
Issuances will not be strong as they were during the previous year, Firth concluded.
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