The leveraged lending market is heading for its best year since 1998 due to an increased number of M&A deals, according to a report from Piper Jaffray, the securities firm. Arrangers launched $124 billion of leveraged loans in the first half of 2004, up from $80 billion in the second six months of 2003 and on course for 1998?s year-end figure of $256 billion.
This has largely been driven by the volume of M&A leveraged loans ? more were completed in the second quarter of 2004 than in any quarter in the last four years.
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