The mutual decision was taken by the two groups following the conclusion of a 6-month trial period, so that both organisations can continue serving the interests of their respective members, while still working together for the benefit of the whole market.
Sabrina Fox, Executive Advisor to ELFA, said: “ELFA is grateful to AFME for their support over the last six months. The platform they provided to us was essential to our success and momentum. As trade associations we represent different constituencies with unique perspectives. Working together as independent entities will enhance our ability to represent our respective members, and to collaborate with each other. Our intention is to continue to work closely with AFME as both parties act to support the growth and sustainability of the European leveraged finance market.”
Gary Simmons, Managing Director of AFME’s High Yield Division, said: “This was a mutual decision taken by both organisations in order for us to best represent the interests of our respective members. The high yield investor community is an important part of the European high yield industry and we value its contribution to maintaining a healthy and viable market. AFME and ELFA will continue to work informally together across various policy issues, including joint initiatives and continued communication, to promote high yield market growth and efficiency.”
The European Leveraged Finance Association (ELFA) is pleased to announce the appointment of Irem Sukan, Marios Halloumis and Glenn Oliver Anderson as the new Co-Chairs of the ESG Committee. Irem, Marios and Glenn will take over from Tina De Baere, Oliver Newman and Lily Baik following their decisions to step down.
The European Leveraged Finance Association (ELFA) has published a summary of industry roundtables, held in response to its recent Open Letter (“Taking Stock of Market Standards on Disclosure, Process, and Engagement in the European Leveraged Finance Market”) which highlighted persistent concerns around limited disclosure, overly compressed deal timelines, and increasingly restrictive transferability terms, all of which are undermining efficiency and resilience in Europe’s leveraged finance market.
The European Leveraged Finance Association (ELFA), in collaboration with global law firm Akin, has today published the second issue in its Transferability Series, focusing on the evolving use of whitelists in leveraged finance documentation.
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