Borrowers hold out for stability

摘要

The European investment-grade loan market has made a slow start to 2020 as borrowers hold out for the return of pre-Covid pricing levels and maturities while the uncertain economic outlook has halted potential opportunistic financing. With just US$14.7bn of European investment-grade loans arranged so far this year, activity has been patchy at best as borrower demand for loans remains low despite banks' eagerness to lend. "Banks are really willing the corporate loan market to spark back into life, but there's not a lot of M&A around and very few early benchmarks." a senior loans banker said.