Convergence in leveraged finance

the evolution of leveraged finance

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The leveraged finance market in Europe has changed dramatically since it emerged from the TMT 'bubble' of 2000/2001. Booming liquidity and increasing investor 'convergence' – where differing investor groups look to co-invest across a broad range of leveraged credit products – have created a more integrated marketplace offering borrowers a broader range of products in ever-increasing size.

Background

Scroll back to 2001/2002 and the market was very different. A somewhat monolithic marke

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