After a challenging period of elevated  rates, Europe's leveraged finance markets are poised for growth in 2025, with stabilising costs, rising competition and renewed opportunities for dealmakers.

European leveraged finance in 2023 was saddled with the negative effects of elevated interest rates. But as the market adjusts to the "new normal", rate and price stability offer hope for a brighter 2024.

European leveraged finance markets paused for breath in 2022, due to rising interest rates, volatile geopolitics and a tightening of financial markets across the board—but what can we expect in 2023?

Following a year of healthy activity, M&A deals in the pipeline are set to sustain leveraged finance issuance in the pharmaceutical, medical and biotech sector in the months ahead.

European leveraged finance markets rebounded in the past 12 months, driven  by enthusiastic refinancing activity and a resurgent M&A marketplace, setting the  stage for a healthy year ahead

Reopening economies have transformed the credit landscape with ratings upgrades rising sharply through the year, after 2020 recorded the highest number of downgrades in more than two decades.

Borrowers are taking advantage of buoyant leveraged loan markets in the US and Europe to reprice existing credits at lower interest rates, and lenders are happy to oblige

The European leveraged finance market remains resilient after a year of unprecedented hardship, as lenders dissect credits to determine the best possible deals, from pricing to documentary terms