The Loan Market Association’s (LMA) 10th Syndicated Loan Conference proved a knockout event this week with some 900 attendees piling into the QEII Conference Centre in London to hear varied topics spanning the “healthy” state of the syndicated loan market to how automation might soon take over their jobs.
Brexit emerged atDebtwire’s European Mid Market Forumas the surprise hope on the horizon for a market at the top of the cycle with too much money chasing too few deals.
With banks fighting hard to keep hold of their turf, offering competitive leverage on deals, asset managers are increasingly looking to stretched senior financing as a way to compete in a level playing field. But with a rising number of players expected to offer the 5-6% stretched senior in 2017, the new debt solution risks doing to the unitranche what second lien did to mezzanine.
