Wed 07/19/2023 06:45 AM
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The European leveraged finance primary market recovered from its 2022 lows during the first half of this year. Term loan B amend-and-extend transactions, add-ons and refinancings formed the bulk of issuance and helped to push out maturities but resulted in higher interest costs and squeezed interest coverage ratios.

The second half of this year is expected to see similar activity, with high levels of primary issuance and large investor appetite for the high yields on offer, but M&As will...
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