This year’s best borrowers have excelled in what has been a rollercoaster ride in the international capital markets. Debt and equity issuance continued to break records. The asset-backed market is booming. A true high-yield market has begun to develop in Europe. Leveraged loans are now – according to Standard & Poor’s – a true asset class. And the syndicated loan market has seen jumbo euro issuance, the introduction of soft pricing, raging arguments over fees and new types of loan/bond hybrid.
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