Leveraged loan market climbs
European leveraged loan issuance – usually defined as a loan yielding more than Libor+125bp – is rallying after a poor 2002. The first three quarters of 2003 saw €39.7bn of issuance from 98 deals, nearly eclipsing 2002’s overall total of €40bn from 101 issues.
The growth coincides with an expansion of the market’s investor base. Once the preserve of banks, more and more institutional players are
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