Leverage levels hit post-crisis high

摘要

Leverage levels are hitting post-crisis highs in Europe's leveraged loan market as borrowers tap into a wave of liquidity from lenders competing to get on a limited number of deals. Banks and institutional investors have had very little opportunity to put new money to work in 2016, hit by a flood of refinancings and repricings, with a limited number of event-driven deals. In a bid to put cash to work, they are accepting more aggressive loans.