Finance
Banks Offer to Do Deals for Free in Hectic Leveraged Loan Market
- Banks are pitching a high number of repricings to PE firms
- CLO managers have too much money to pass up on deals
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Investment bankers who cater to private equity firms are offering to do deals for free as a global rally drives rampant demand for leveraged loans.
They’re pitching a high volume of transactions simply to lower borrowing costs on existing leveraged loans, sometimes even volunteering to do them for nothing just to stay in the running for future deals, according to people familiar with the matter.