Danger ahead for loan market
The loan market is in danger of polarising. While top tier borrowers will continue to command strong backing from their lenders, smaller, more domestically focused companies will struggle in 2011 as their local banks pass on their higher costs of funds and reduce their leverage.
As the rest of the capital markets succumb to the sickness caused by weakening European sovereigns, the loan market carries on regardless, as healthy as ever.
Throughout the year, the imbalance of demand and supply at the top end of the syndicated loan market has helped to shield
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