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A recent flood of auctions on Europe’s secondary loan market continued last week as some market participants looked to clean up balance sheets before the end of the year, while others tried to bulk up.
European leveraged loan volume of US$155.5bn in 2013 so far has reached a six-year high, fuelled by refinancings, but the next step in the revival of the market is dependent on a resurrection of M&A.
Bids Wanted In Competition have continued to flood the European secondary loan market but some traders are questioning whether there is any money to be made from them.
- BWICs inflate leveraged top 40 to pre-crisis levels
- Cannibal run
- Auction wave continues
- RAC owner seeks dividend payout
- Funds sell €1.2bn of European loans since September
- Mediq, CPA capitalise on investor demand
- Zombies shuffle towards restructurings