European Junk Borrowers Reprice Loans by 25-50 Basis Points, Adding €50 Million Debt
Updated
Updated · Bloomberg · Jun 1
European Junk Borrowers Reprice Loans by 25-50 Basis Points, Adding €50 Million Debt
1 articles · Updated · Bloomberg · Jun 1
European leveraged-loan borrowers rushed into the market at the start of the week to reset debt pricing lower, taking advantage of strong credit conditions to cut funding costs.
Restaurant Brands Europe, nexeye and Parts Holding Europe are each seeking to trim margins on euro-denominated term loans by 25 to 50 basis points.
Ivirma is pursuing a similar repricing while also adding a €50 million-equivalent term loan to its existing debt stack.
The wave shows junk-rated companies using a hot European credit market not just to refinance, but to lower borrowing costs and raise fresh funds.
How long can Europe's 'hot' loan market defy its cooling economic reality?
As the US relaxes debt rules, is Europe's strict oversight crippling its own banks?