Some €6bn of loans have flooded Europe's leveraged loan market since mid-July, as lenders take advantage of more stable macro conditions to syndicate deals and sell down risk before an expected slowdown in August. Many banks held off launching deals during the first half of July in light of volatility surrounding Greece but some stability around the region and its position in the eurozone opened the floodgates for European lenders to launch leveraged loans. "Dealflow was light before the Greek angst and dried up totally during the worst of it. You now have a mix of deals that were held back and deals that want to be out before summer," a syndicate head said.
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