Powered by Debtwire data, Loan Highlights reviews loan market activity across North America, EMEA, and APAC in 1H24. All data correct as of 26 June 2024.

The loan market in the Americas, EMEA and Asia-Pacific regions is a useful gauge of improvement when compared with the previous year. To that end, combined volumes across the three regions amounted to USD 2.6trn in 1H24, marking a 13% rise from 2023 year to date (YTD).

Expectations that central banks are set to cut interest rates in the US and Europe at some point this year are energising borrowers in the Americas and EMEA. Even lower volumes printed in APAC have not been enough to dampen global growth.

Volumes have been boosted mainly by the Americas, the biggest market in the world. The volume printed in 1H24 (USD 1.76trn) jumped 31% from 2023 YTD. Volume in 2Q24 alone (USD 898bn) was the highest quarterly figure in two years.

Volume in the year to date is illustrative insofar as it is already close to the amount printed in nine months last year. It is also in line with first-half issuance in 2021 and 2022, which are considered banner years in the loan market.

EMEA has recorded loan issuance of USD 585bn so far this year, 2.8% above 2023 YTD’s USD 569m. Issuance in 1Q24 is 17% below the first-quarter average between 2019 and 2023.

In APAC, according to the data as at 26 June (subject to further updates), volume is down on the previous year. First-quarter numbers reflect a decline in the YoY comparison, a trend that may be strengthening given that 1H24 figures show a 37% fall.

Read more in the full report.