The European Institutional Loan Market Technicals report provides a monthly statistical summary of loan and bond volumes and spreads for the primary European markets. Technicals data includes monthly CLO volume, bids wanted in competition (BWIC), ELLI outstanding, and ELLI repayments.

Staffing levels and occupancy rates in the European retirement and nursing home sector are normalizing, allowing some operators to start deleveraging.

The misses recorded by S&P include overestimating the ability to repay debt and reduce leverage.

Senior-only loans grabbed the lion’s share of European leveraged finance transactions in the first quarter.