JPMorgan’s Orssten Says Bilateral Loan Inquiries Have Picked Up

Kristian Orssten, head of EMEA loan and high-yield capital markets at JPMorgan Chase & Co. (JPM), said more borrowers are asking about bilateral loans, which involve only one lender. He made the comment at a syndicated loan conference in London yesterday organized by Euromoney Seminars.

On the impact of increased bilateral lending:

“We are seeing more inquiries in Europe for bilaterals as borrowers find it more difficult to get consensus among lenders for terms and documentations in today’s market condition.

‘‘This is an alarming sign. If it becomes a trend in the syndicated loan market it will negatively affect transferability and transparency.’’

To contact the reporter on this story: Patricia Kuo in London at pkuo2@bloomberg.net

To contact the editor responsible for this story: Faris Khan at fkhan33@bloomberg.net

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