Almost US$24bn in asset based loan volume was completed via retail syndication in the US in 1Q19, a 29% increase over the year ago period, but down nearly 26% from the record quarterly high garnered in 4Q18. An additional US$1.12bn in clubbed issuance was also completed during the quarter. Despite the year over year increase in issuance, the pipeline was off on a deal count basis with only 67 deals working their way through the market in 1Q19, down from 70 in 1Q18. At nearly US$4.3bn, sponsored issuance made up 62% of new loan assets which totalled just under US$7bn. At US$4.7bn, 1Q19 ABL M&A volume made up 18.5% of combined clubbed and retail syndications, up meaningfully from the US$2.6bn in M&A volume raised at the same time last year.
Contact: Maria Dikeos
maria.dikeos@thomsonreuters.com
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