Deals
Europe’s Loan Borrowers Rush to Refinance Before Brexit Vote
June has been busiest month for new leveraged loans in Europe.
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June is already the year’s busiest month for leveraged loan sales in Europe as borrowers from Altice to Verallia got deals done before the Brexit referendum.
About 7.1 billion euros of leveraged loans have allocated so far this month, nearly a third of the year’s 22.5 billion-euro total, data compiled by Bloomberg show. Triggered by a 1 billion-euro repricing deal from Sweden-based security firm Verisure at the start of June, borrowers took advantage of demand from investors to refinance debt at a lower cost.