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Headline: Reality hits mad merger pricing Source: Euromoney Date: July 2000 Author: Ben Beasley-Murray Secondary loan market takes off Last year’s high-margin financing for Olivetti may have been the peak for fees and prices on the syndication of huge merger loans. But the mergers go on and spreads are getting less wild, more credit-sensitive. A secondary market is growing in Europe, and institutional investors are stepping in to fill a possible gap in bank liquidity. Ben Beasley-Murray reports The past year has been a trail-blazing period for syndicated lending, with loans of unprecedented size coming to the market. |
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