A burst of loans to highly indebted companies to cut borrowing costs and acquire corporate targets while interest rates remain low boosted US syndicated lending by 24% to an all-time high for any nine-month period, charting a course toward a record issuance year. The torrent of leveraged loans to low-rated borrowers came just as more high-quality corporations - unwilling to wait any longer for new US tax or trade policies before merging with complementary businesses while money is cheap - also propped up investment-grade lending.
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