A brave new world for international leveraged debt

European high yield and leveraged loan markets have a distinctly different feel from 12 months ago. Volumes and values notably dropped over 2015, leaving issuers and lenders wondering what to expect in 2016 and beyond.

Our report last year, Coming of age: The changing face of international leveraged debt, revealed that the European and international markets were converging in a number of significant ways—across products, markets and investors; across a broader choice of financial instruments; and across legal platforms. We asked the question: how would this trend, and the related development of the European and international financial markets, be impacted by a strong, neutral or a declining market?

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