July 2012, US Loan Market Trends and Analysis - Forbes
Jul 13, 2012 . VideoJuly 2012, US Leveraged Loan Market Trends and Analysis Investor . As a result, loan prices rebounded and clearing yields tightened. . and insightful coverage of leveraged loans, corporate and high-yield bonds, .
http://www.forbes.com/sites/spleverage/2012/07/13/july-2012-us-loan-market-trends-and-analysis/

Corporate Loans — A Mature Segment of the High Yield Market
Corporate Loans — A Mature Segment of the High Yield Market. Yuri Mostovoy, Interval LLC _. North?eld 1998 Conference, Santa Barbara. Corporate Loans .
http://www.northinfo.com/documents/128.pdf

Europe Turns to U.S. for Leveraged Loans - WSJ.com
May 29, 2012 . The leveraged-loan market is used by companies with high-yield or noninvestment-grade credit ratings, making it particularly sensitive to .
http://online.wsj.com/article/SB10001424052702303395604577432564052536968.html

AFME European High Yield and Leveraged Loan Report, 2012 Q2 ...
Aug 13, 2012 . AFME European High Yield and Leveraged Loan Report, 2012 Q2 . of the European leveraged finance market, including both high yield loans .
http://www.sifma.org/research/item.aspx?id=8589939885

Investing in Bank Loans vs. High Yield Bonds - CNBC
Mar 28, 2012 . Stocks to Inch Higher on BOJ Easing. » Why the Bank of Japan Is . of Japan Easing. » Blue Skies Ahead as Japan Airlines Returns to Market .
http://video.cnbc.com/gallery/?video=3000080368

High-yield debt - Wikipedia, the free encyclopedia
Potentially insolvent banks have made too few good loans creating a debt . Indices for the broad high-yield market include the CSFB High Yield II Index ( CSHY) .
http://en.wikipedia.org/wiki/High-yield_debt

Term Loans and High Yield Bonds: Tracking the Convergence
Jul 17, 2012 . towards convergence of the term loan B market and the high yield bond market with respect to both the investor base and creditors' legal .
http://www.shearman.com/files/Publication/0a409fb5-74f0-47b1-a32c-2eac09610aab/Presentation/PublicationAttachment/46b886cc-7b3a-440b-93c8-310c8762bd59/Term-Loans-and-High-Yield-Bonds--OSullivan-Cheng-FIN-071712.pdf

High Yield Investment - Prosper
Advanced credit data lets you manage your peer-to-peer lending investment. . Money market accounts as short term high yield investments may carry penalties .
http://www.prosper.com/invest/about-investing/high-yield-investment/

Leveraged Finance News
18 hours ago. market, keeping you current on deal pricing and high yield fund performance, CDOs, distressed debt, hedge funds, leverage loans, the global .
http://www.leveragedfinancenews.com/

Loan market activity holds up in May while high-yield succumbs to ...
Jun 18, 2012 . LCDEuroStatsJune 2012. Vol 7, No. 6. Published by S&P Capital IQ Leveraged Commentary & Data. 2011. 2010. 2012 .
http://www.standardandpoors.com/spf/upload/Ratings_EMEA/June_2012_EuroStatsn1n.pdf?elq=65067c2115c7423aadeb63d1f938e401

High yield to revive Europe's loan market| unquote.com
May 3, 2012 . High yield is here to stay. What does it mean for private equity? Kimberly Romaine reports.
http://www.unquote.com/unquote/analysis/2172284/yield-revive-europes-loan-market

European Loan Market - Monthly Review, August ... - Babson Capital
Aug 31, 2012 . for all intents and purposes closed with many market participants on summer vacation. The resulting impact on the high yield and loan markets .
http://www.babsoncapital.com/BabsonCapital/http/bcstaticfiles/Research/file/2012%2008%2031%20Babson%20Capital%20Europe%20Market%20Overview_US.pdf

A Synopsis of the Bank Loan Market - Hotchkis and Wiley Capital ...
Over the past decade, the bank loan market has evolved considerably—it has, in many ways, converged with the more seasoned high yield bond market. In this .
http://www.hwcm.com/assets/documents/Marketing-Pieces/Newsletters/Synopsis-of-the-Bank-Loan-Market-HW-High-Yield-2Q11-Newsletter.pdf

High Yield and Bank Loan Outlook - Guggenheim Partners
high yield bond and bank loan markets returning 5.0 percent and 3.5 percent, . Prior to formulating specific views on the high yield and bank loan market, it is .
http://guggenheimpartners.com/GP2011/media/pdf/High_Yield_and_Bank_Loan_Outlook_-_April_2012.pdf

Diversify Your Portfolio with Senior Loans - ING Investment ...
Loan market? 3 what is the performance record of the Senior. Loan market? 4 what are the main differences between Senior Loans and. High Yield Bonds? 4 .
http://www.inginvestment.com/idc/groups/public/documents/investor_education/fundspace_bswp-senloan.pdf

LeveragedLoan.com
. Loan Trends. Volume; New-Issue Yields; Price LevLoan 100; Yield LevLoan 100; Index Level; Default Rate . High-yield bond market trends and stats » .
http://www.leveragedloan.com/

Bank Loans—An Alternative to High Yield Bonds - T. Rowe Price
Jun 4, 2012 . But there are some important differences between high yield bonds and bank loans, which are sometimes called leveraged loans and also tend .
http://individual.troweprice.com/public/Retail/Planning-&-Research/T.-Rowe-Price-Insights/Market-Analysis/Bank-Loans-An-Alternative-to-High-Yield-Bonds

European high yield bond, leveraged loan trading markets follow ...
May 18, 2012 . With Ascension Day in continental Europe yesterday, the secondary high-yield and leveraged loan markets werew quiet, although tone has .
http://www.leveragedloan.com/european-high-yield-bond-leveraged-loan-trading-markets-follow-equities-lower/

Leveraged Financial Markets: A Comprehensive Guide to Loans ...
Leveraged Financial Markets: A Comprehensive Guide to Loans,Bonds,and Other High-Yield Instruments (McGraw-Hill Financial Education Series) [William .
http://www.amazon.com/Leveraged-Financial-Markets-Comprehensive-Instruments/dp/0071746684

High-Yield, Bank Loan ETF Trades Draw Attention to Debt Markets ...
May 18, 2012 . From Yahoo! Finance: Large trades this month in a pair of ETFs focused on specific areas of the debt markets have drawn the attention of .
http://finance.yahoo.com/news/high-yield-bank-loan-etf-135249933.html

2012 | AFME European High Yield and Leveraged Loan Report ...
May 4, 2012 . Securities Industry and Financial Markets Association (SIFMA) . of the European leveraged finance market, including both high yield loans and .
http://www.sifma.org/research/item.aspx?id=8589938632

More of Ebony’s work for Vogue Living

Investing in Debt: Opportunities in Leveraged Loans
have traditionally focused on the high yield bond market, secured loans may . US leveraged loan market is almost as large as the high yield bond market .
http://us.bnymellonam.com/core/library/documents/knowledge/AlphaTrends/s_alcentra_levgdloans.pdf

A Guide to the Loan Market - lcdcomps.com
leveraged loan and high-yield market participants. ?. Loan price evaluations: Standard & Poor's Evaluation Service provides price evaluations for leveraged .
https://www.lcdcomps.com/d/pdf/LoanMarketguide.pdf

Senior Loans Attractively Priced Relative to High Yield - Fa-mag.com
Mar 19, 2012 . also supported prices in the senior loan market, but that rally has been . between high yield bond yields and senior loan yields exists despite .
http://www.fa-mag.com/docs/whitepapers/2012/Senior-Loans-Attractively-Priced-Relative-to-High-Yield.pdf

Ebony’s round-up of Tokyo Design week in the current Jan/Feb issue of Vogue Living (I actually posted the second page of this story recently banking terminology in us).

And the worst?

Global Syndicated Loan - Bloomberg
'Select a Market' button in the top left of your screen to view a complete range of rankings available for fixed . EMEA High Yield Loans Mandated Arranger . 9 .
http://about.bloomberg.com/pdf/gslc.pdf

Europeans relying on US in 2012 loan, high yield bond market, big ...
Jun 29, 2012 . Yankee loan and bond activity is on the move again as the second-quarter of the year comes to a close. On the loan side, BSN Medical, .
http://www.leveragedloan.com/europeans-relying-on-us-in-2012-loan-high-yield-bond-market-big-uptick-in-yankee-buying/

922310 Capital Advisory Report - February 2012.3.indd - Deloitte
During 2010 and 2011, higher debt yields spurred a return of liquidity to the loan market and a significant increase in loan activity over the last two years.
http://www.deloitte.com/assets/Dcom-UnitedStates-CorporateFinance/Local%20Assets/Documents/us_dcf_the_road_ahead_an_update_on_the_coporate_debt_maturity_wall_030912.pdf

Navigating Bank Loan Implementation - Wells Capital Management
As the loans grew in size over time and as the market expanded with new types of investors, the loan market began to take on properties of the high yield bond .
http://www.wellscap.com/docs/expert_commentary/NavigatingBanks.0412.pdf

Leveraged Commentary & Data - LCD Market Primers
Leveraged Commentary & Data is the global market leader in leveraged loan and high yield bond market news, analysis and research.
http://www.lcdcomps.com/lcd/f/primers.html

Fixed Income 101 - Welcome to www.seemore-indices.com
leverage loans are less volatile than those of high-yield bonds. Leverage Loans versus High-Yield Bonds. The size of the leverage loan market is comparable to .
http://www.seemore-indices.com/documents/education/PracticeEssentials_FixedIncome_101_Understanding_Leverage_Loans.pdf?force_download=true

Fitch: U.S. High Yield & Leveraged Loan Markets Start 2Q Strong ...
Jul 20, 2011 . Strong activity in both the U.S. high yield and leveraged loan markets in April and May gave way to a steep pullback in June. Uncertainties in .
http://www.pymnts.com/fitch-us-high-yield--leveraged-loan-markets-start-2q-strong-but-give-way-to-economic-uncertainty-20110720007043/

Still frames from Ebony’s Kawaii Pop video of 2008

Is the European high-yield bond market a bubble? - The Economist
Jun 16, 2011 . The high-yield market is well established in America, where companies see bonds as an alternative form of funding to bank loans. More than .
http://www.economist.com/blogs/freeexchange/2011/06/high-yield-corporate-bonds

Leveraged Commentary & Data - Welcome
Leveraged Commentary & Data is the global market leader in leveraged loan and high yield bond market news, analysis and research.
http://www.lcdcomps.com/


Flyers for the 2008 Kawaii Pop show

Asset-Based Lending Roars Back Was 2011 Market Reminiscent of ...
Jan 24, 2012 . The growth in the asset-based lending market throughout 2006 and 2007 . loans or high yield bonds for leveraged buyouts and refinancings.
http://www.turnaround.org/Publications/Articles.aspx?objectId=13717

Converging Markets: Leveraged Syndicated Loans and High-Yield ...
Dec 2, 2005 . The leveraged syndicated loan market and high- yield bond market compete for borrowers seeking large non–investment-grade debt. As .
http://www.wcsr.com/downloads/pdfs/cm120205.pdf

US High Yield and Bank Loans - Change Country - BlackRock
Bank Loans, S&P/LSTA Leveraged Loan Index, N/A, N/A . The index aims to represent the more liquid portion of the high yield market by requiring issuers to .
http://www2.blackrock.com/US/institutions/investment-strategies/fixed-income/us-high-yield-and-bank-loans

Bank Loans - Western Asset
that provide daily trade execution, offering liquidity very similar to that of the high- yield market. Q: What differentiates Western Asset's approach to bank loans?
http://www.westernasset.com/US/en/pdfs/commentary/QABankLoans201207.pdf

Term Loan and High Yield Bond Convergence | Osler, Hoskin ...
Aug 13, 2012 . We have recently seen a trend of the term B loan market converging with the high yield bond market. This trend can be explained, in large part, .
http://www.jdsupra.com/legalnews/term-loan-and-high-yield-bond-convergenc-48478/


Fitch's Quarterly Report on U.S. High Yield Bonds, Leveraged Loans ...
Apr 26, 2012 . "The U.S. high yield bond market set a new quarterly issuance record with $86.9 billion in the first quarter. The previous quarterly record was .
http://www.distressedvolatility.com/2012/04/fitchs-quarterly-report-on-us-high.html

Communities - Thomson Reuters LPC
HIGH YIELD BONDS AND LEVERAGED LOANS. In the leveraged loan and high yield bond markets, Thomson Reuters LPC provides news, data, analytics and .
http://www.loanpricing.com/communities/

Senior Secured Loans Position Paper - Marquette Associates
HIGH YIELD BONDS. 6 'ADANECZ "LAISE 4HE SYNDICATED LOAN MARKET STRUCTURE DEVELOPMENT AND IMPLICATIONS ")3 1UARTERLY 2EVIEW $ .
http://www.marquetteassociates.com/Portals/0/Marquette_Senior_Secured_Loans.pdf

Spreads from Ebony’s inspiration scrapbooks

Picking through the ETF pile for some relatively safe high yields ...
Dec 2, 2011 . Picking through the ETF pile for some relatively safe high yields . PowerShares Bank Loan (BKLN) — The bank loan market is another .
http://www.riabiz.com/a/9874130/picking-through-the-etf-pile-for-some-relatively-safe-high-yields

The Outlook For High Yield Credit - Business Insider
Mar 19, 2012 . The high yield corporate credit markets have rallied along with equities since October 2011. There are two distinct types of assets within high .
http://articles.businessinsider.com/2012-03-19/markets/31208964_1_bb-rated-bonds-interest-rate-risk-loans

Credit spreads in the market for highly leveraged transaction loans
spreads in the corporate bond market, but this sensitivity is significantly less than unity; indicating that the HLT loan market and high yield public debt market are .
http://www.stern.nyu.edu/~jmei/credit.pdf

High Yield High Beta CDS Can be High Reward – TF Market Advisors
Jul 28, 2012 . The high yield market is trading at pretty tight levels. Big liquid . Banks make loans and then try and win bond underwriting business. But the .
http://www.tfmarketadvisors.com/2012/07/28/high-yield-high-beta-cds-can-be-high-reward-delaying-post/

LCD Leveraged Loan Group | LinkedIn
Association of leveraged finance market participants, including those that play in leveraged loans, high-yield bonds and distressed.
http://www.linkedin.com/groups/LCD-Leveraged-Loan-Group-2092432

Whilst corporate loans - AXA Rosenberg
The US loan market, far more mature than the European one, provides an attractive risk/ return profile when compared with high yield bonds and equities.
http://www.axarosenberg.us/en/c/document_library/get_file?uuid=axa_extract_investacumen11_art8_en&groupId=12504&roleIds=10138-10146

September 2012, European Leveraged Loan Market Analysis ...
Sep 11, 2012 . The loan market was subdued in August, owing to summer break for both investors and bankers. Inflows in high-yield funds were up.
http://www.youtube.com/watch?v=1ARr9U_IW6s

Refinancing Risk for High Yield and Loans: Daily Stat: Market Insight ...
Apr 24, 2012 . A small percentage of the high yield and loan market will mature in 2012, indicating a relatively low level of refinancing risk.
https://www2.blackrock.com/us/financial-professionals/market-insight/daily-stat/refinancing-risk-for-high-yield-and-loans

Loan-Market Pipeline Gushes With New Deals - WSJ.com
Jul 12, 2012 . The loan-market pipeline began flowing in earnest Thursday, driven by . Leading the spate of deals was a giant $1.92 billion high-yield or .
http://online.wsj.com/article/BT-CO-20120712-713626.html

Van Eck launches emerging-markets high-yield ETF; ticker: HYEM ...
May 10, 2012 . Van Eck has launched its third high-yield-bond-focused exchange-traded fund, the Market Vectors Emerging Markets High Yield Bond ETF, .
http://www.leveragedloan.com/van-eck-launches-emerging-markets-high-yield-etf-ticker-hyem/

High Yield Debt? Think Loans, Not Bonds - Seeking Alpha
Sep 5, 2010 . High yield bonds have been a big winner for investors who “kept the . Older loans traded in the secondary market are discounted to offset .
http://seekingalpha.com/article/223911-high-yield-debt-think-loans-not-bonds

Senior Loan Market Update 2nd Quarter 2012 - First Trust
Despite these macro headwinds, the senior loan market proved . Credit Risk, High-Yield Securities Risk, Senior Loan Risk, Lower Grade Debt Instruments Risk .
http://www.ftportfolios.com/Common/ContentFileLoader.aspx?ContentGUID=5463e64b-05ee-46e3-aab4-da403b6c12ab

Senior Loan Market Update 1st Quarter 2012 - First Trust
liquidity in the leverage finance markets (senior loans and high-yield bonds), many issuers have taken advantage of the opportunity to refinance existing debt .
http://www.ftportfolios.com/Common/ContentFileLoader.aspx?ContentGUID=523b10cb-fa1a-4f55-b7f8-bb98133a23ae

Sydney Questions –

Capital Markets Advisory, Loans, PIPEs, High-Yield Debt
Houlihan Lokey's Capital Markets Group has extensive experience in leveraged loans, private mezzanine debt, high-yield debt, IPOs, PIPE financing, private .
http://hl.com/us/corporatefinance/financing.aspx

Floating Rate Loans Yield Opportunity for Investors ... - BlackRock
Emerging Market Bonds. Investment-Grade Corporates. Municipals. US Treasury Bonds. High Yield. US Aggregate. 0. US Treasury Bills. Bank Loans. Loans .
https://www2.blackrock.com/webcore/litService/search/getDocument.seam?source=NEWWORLD&contentId=1111123683&venue=PUB_IND

July 2012, European Leveraged Loan Market Analysis - YouTube
Jul 10, 2012 . The European leverage finance market was cautious in June with the markets being driven by . New-issue loans vs high yield bond volume .
http://www.youtube.com/watch?v=TdCP_cJ47bU

Capital Markets Review 2011
High Grade Debt Capital Markets Review..................................................... 6. 2011 Review . . High Grade Loan Market Review. . High Yield Bond Trends.
http://www.law.northwestern.edu/professionaled/documents/Dickson_2011.pdf

Senior Loan Market Snapshot - InvescoPowerShares.com
Loan Market Characteristics . Interest-rate: Unlike high-yield bonds, senior loans are generally structured . some of the interest-rate risk in high-yield bonds.
http://www.invescopowershares.com/pdf/P-BKLN-DISC-1-E.pdf

December 8th FIASI Outlook for the US High Yield and Leveraged ...
EVENT: FIASI Outlook for the US High Yield and Leveraged Loan Markets FIASI is pleased to be collaborating with BNP Paribas to jointly host a unique and t...
http://www.fordhamfinancesociety.com/december-8th-fiasi-outlook-for-the-us-high-yield-and-leveraged-loan-markets

/ /PRACTICE NOTE Middle Market Lending: Overview - Jones Day
unlikely to include high-yield debt or institutional term loans. MM. This Practice Note from our website provides an overview of financings in the middle market, .
http://www.jonesday.com/files/Publication/e873a75e-8666-420d-825d-9247ffd1590a/Presentation/PublicationAttachment/53c79fa2-638e-455d-bf6d-d57b1580aa52/middlemarket.pdf

Senior Loans Attractively Priced Relative to High Yield
also supported prices in the senior loan market, but that rally has been muted . tage high yield bonds have over senior loans has been contracting since 2008 .
https://www.oppenheimerfunds.com/digitalAssets/Focus-On-2012-Lipper-Fund-Awards-44b9aa58-fdb6-4c5b-9d3d-0fa72789cbd5.pdf

Fixed Income 101 - S&P Dow Jones Indices
leveraged loans are less volatile than those of high-yield bonds. Leveraged Loans versus High-Yield Bonds. The size of the leveraged loan market is .
http://www.spindices.com/documents/education/practice-essentials-fixed-income-101-understanding-leveraged-loans.pdf

Giddy: What Is Leveraged Finance?
High-yield or junk bonds are those that are rated below "investment grade," i.e. . a low margin and be left holding loans or bonds they cannot sell to the market.
http://giddy.org/dbs/structured/LevFinarticle.htm

Viewpoints | Aviva Investors North America
Read 'A Case for High Yield Bonds' or 'Fund of Hedge Funds: a disiplined . This strategy does not invest in structured products or emerging market debt, or allow . High Yield Bonds and Leveraged Loans:Strong Fundamentals and Demand .
http://www.avivainvestors.us/marketinsights/viewpoints.aspx

18-21 February
Ivan Dougherty Gallery

Opportunities in High-Yield Credit - Cumberland Advisors - Market ...
Jun 4, 2012 . Due to macroeconomic concerns, however, the high-yield bond and loan markets are trading as though the default rate will be between 5 and .
http://www.cumber.com/commentary.aspx?file=060412.asp

Opening Wednesday 18th Feb

June 2012, European Leveraged Loan Market Analysis - YouTube
Jun 12, 2012 . The European leverage finance market had a mixed month as a Greek exit from the Eurozone . New-issue loans vs high yield bond volume .
http://www.youtube.com/watch?v=beqRwq5u4h4

Gallery opening hours

July 2012, US Loan Market Trends and Analysis - Forbes
Jul 13, 2012 . VideoJuly 2012, US Leveraged Loan Market Trends and Analysis Investor . As a result, loan prices rebounded and clearing yields tightened. . and insightful coverage of leveraged loans, corporate and high-yield bonds, .
http://www.forbes.com/sites/spleverage/2012/07/13/july-2012-us-loan-market-trends-and-analysis/


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