Deal backlog continues to grow
We've noted that a backlog of deals has been hovering like a storm cloud over Wall Street for awhile now. The Financial Times reports that the backlog has risen to $470 billion. The sum (from Dealogic) comprises $385 billion in leveraged loans, $81 billion in equity business, and $4 billion in delayed new bond issues. This will have to be worked down obviously. The imperative is greater at smaller banks. So there's a lot of pressure to either sell these loans or perhaps even cancel. Somehow they've got to grapple with them. Stay tuned.
For more:
- here's the Financial Times article
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