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Increasing volumes in the European leveraged loan market

Debt markets update

The new-issue volume of leveraged loans in Europe almost reached €80 billion in 2014, the highest level in seven years and an increase of 17% compared to 2013. Leveraged loans are loans provided to companies that, usually, already have considerable amounts of debt and they are generally associated with mergers and acquisitions as they provide the extra cash needed to facilitate a deal. 

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Total Loss Absorbing Capacity: the end of the bail-out?

Billions of euros of public funds were invested in systemically important institutions in order to sustain them at the height of the crisis. This was deemed an absolute one-off bail-out and the Financial Stability Board (FSB) introduced a proposal to end ‘too-big-to-fail’. Does this proposal effectively protect the tax payer or are we simply paying the burden in advance?

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Joining forces to develop a pan-European private placement market

Debt Markets Update

There is little doubt that alternative finance continues to be a very hot topic. While small and medium-sized enterprises (SMEs) and unrated borrowers continue to require credit, there is also evidence of increased liquidity from a new breed of alternative investors (particularly insurance companies and pension funds). Over the years the US private placement [USPP] market, which raises about $50 billion a year, has evolved to become an excellent source of alternative funding for European mid-sized corporates, particularly following the financial crisis. Although this is a positive development, the common perception among financial market players is that further development of a European private placement [PP] market is necessary.

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Zanders strengthens its Debt Advisory Services

In this quarterly update on our Debt Advisory Services, we share our thoughts and views on current trends and developments in the funding market, and give you an update on our services.  

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A continuing trend in non-bank financing

Since 2008, especially after the default of Lehman Brothers, the capital markets have changed dramatically.

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