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European leveraged finance: A market reawakened

European leveraged finance markets back on track -European leveraged finance markets rallied strongly in 2024, with momentum for new deals and opportunities for borrowers and lenders alike in 2025 - Europe's leveraged...more

Looking at all the angles: incremental debt incurrence flexibility in detail

From large cap syndicated deals to mid-market private credit, whether in loans or in bonds, the ability for borrowers to incur material incremental debt is commonplace. However, when you look beyond the headline ratios and...more

Six things to reflect on for creditors considering a share pledge enforcement

In the current market, investors are increasingly considering their options in relation to the stressed and distressed credits in their portfolios. Whilst mindful of stakeholder relationships, secured lenders may, in some...more

Late rally softens leveraged loan landing

A strong finish to 2023 helped to boost global leveraged loan issuance at the end of an otherwise rocky year for all key markets. The last 12 months were incredibly challenging for banks, investors and borrowers, as elevated...more

Ready for restructuring

HEADLINES - -Rising interest rates and reduced refinancing options are increasing the likelihood of restructuring and financial distress in the next 12 months -Cov-lite debt packages have given borrowers breathing...more

Buyout momentum paints a strong picture for issuance in 2022

HEADLINES - ▪️ Buyout deal value in Western Europe hit an all-time record high by the end of 2021, more than doubling year-on-year  ▪️ Private equity (PE) activity supported an 81% uplift in buyout loan issuance...more

US versus Europe: Will their shared path continue in 2022?

HEADLINES - ▪️ In the US, leveraged loan issuance for 2021 reached US$1.4 trillion, a 63% increase year-on-year ▪️ The high yield bond market in the US was relatively flat, rising from US$428.3 billion in 2020 to...more

US versus Europe: Will their shared path continue in 2022?

- In the US, leveraged loan issuance for 2021 reached US$1.4 trillion, a 63% increase year-on-year - The high yield bond market in the US was relatively flat, rising from US$428.3 billion in 2020 to US$429.7 billion in...more

Buyout momentum paints a strong picture for issuance in 2022

HEADLINES - • Buyout deal value in Western Europe hit an all-time record high by the end of 2021, more than doubling year-on-year • Private equity (PE) activity supported an 81% uplift in buyout loan issuance...more

Lenders zero in on the fine print as ESG issuance surges

The rise in sustainability-linked debt issuance observed in 2021 has shown little sign of slowing down as borrowers continue to focus on improving environmental, social and governance (ESG) performance in response to investor...more

Widening variety of issuers sustains refinancing momentum

Debt markets warm to issuers from a broader range of sectors, maintaining high levels of refinancing activity - The surge in refinancing activity across leveraged loan and high yield bond markets through H1 2021 looks set...more

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