Monica Barton

European leveraged finance in 2023 was saddled with the negative effects of elevated interest rates. But as the market adjusts to the “new normal”, rate and price stability offer hope for a brighter 2024. -Rising interest rates have pushed up borrowing costs and constrained issuance activity. - Subdued M&A pipeline and cautious underwriting by banks limit buyout financing opportunities. - Where transactions have progressed, the bulk of activity has been propelled by refinancing deals.

HEADLINES Direct lenders were able to take on large-cap financings in 2022 as loan and bond markets pulled back Nimble managers are taking out hung bridges and buying up debt in non-conventional syndication processes Direct lending moves into 2023 in good shape, but pressures on portfolios and tighter fundraising markets could slow deployment Inertia across European leveraged loan and high yield bond markets in 2022 opened a window of opportunity for direct lenders to fund larger credits and...

November 14, 2022 Monica Barton, Gareth Eagles, Dorothea James, Christian Pilkington, Will Stoner White & Case LLP + Follow x Following x Following - Unfollow Contact To embed, copy and paste the code into your website or blog: Rises in energy costs, disruption to global supply chains, the situation in Ukraine, soaring inflation and higher interest rates are pushing several major European economies towards recession.