Financing

Debt Explorer | As leveraged loan markets have been impacted by a challenging macroeconomic environment, private equity sponsors are sharpening their focus on flexibility in their portfolio companies’ loan documents.

Vehicle sales rebounded strongly following lockdowns, but Europe’s automotive companies confront a period of significant change as governments phase out combustion engines, supply chain constraints bite and the impacts of events in Ukraine are felt

Leveraged loan and high yield bond markets in Western and Southern Europe saw a major resurgence in the past 12 months, driven initially by refinancing, followed by almost unprecedented M&A and buyout issuance, and setting the stage for, on balance, a productive year ahead

Investors eager to maintain high levels of capital deployment have kept terms and pricing highly flexible for bond and loan issuers, but that does not mean easy access for borrowers—lenders are still pushing back against credits that fall short of the quality bar