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.

COVID-19 split the retail financing market—players of scale with online capabilities thrived, while retailers reliant on brick-and-mortar stores for the bulk of their earnings came under increasing financial pressure