Gap widens between arranging banks

摘要

The division of duties between arranging banks in Europe's leveraged loan market is widening further as those leading a deal take an even more prominent role sidelining the rest of the group, which are left with very little visibility during syndication. A US-style "lead left" structure among arranging banks has gained prominence in Europe over the past few years, kicking up a notch in 2019 as the unequal distribution in fees became more prevalent.