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?