Rush to Cut Costs Fuels Record Week for Europe’s Leveraged Loans

European leveraged loan issuance hit a record this week as a wave of private equity-backed firms tapped ferocious investor demand to cut their borrowing costs.

Over €26.5 billion ($31.6 billion) of term loans were issued this week, the equivalent to around 5.3% of the total European leveraged loan market, according to data compiled by Bloomberg.