Loans turns nasty as backstops, disruption clauses threatened

The syndicated loan market came under renewed pressure this week, as concerns about banks’ soaring funding costs in US dollars and the validity of Libor as a reference rate escalated.

  • 26 Sep 2008

The worries have led to talk about lenders triggering market disruption clauses on existing loans in order to renegotiate interest rates.

Fears are also riding high about borrowers in the Nordic region starting to drawdown backstop facilities — secured at very advantageous terms — after the commercial paper ...

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