Bluechips go for jumbo refis as margins fall
Corporate borrowers are becoming increasingly confident in the capacity of the European investment grade loan market, leading to a spate of jumbo refinancings. Anheuser-Busch InBev, Gas Natural and Philip Morris have all launched deals in the market this week as margins continue to shrink.
Although some bankers are frustrated not to see more new money deals, such as the acquisition financing from Merck (see corporate bonds section), most welcomed the increased flow in the market.
"Recently theres been a real problem in the lack of deals of a decent size, so to
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