Leader: A quiet loans revolution

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Leader: A quiet loans revolution

For months, bankers in the European loan market have been desperately scanning the horizon for the signs of a deal failing. They have been pinning their hopes on such an event to move pricing in the investment grade market back to realistic, sustainable levels — in line with, or at the very least closer to, their own funding costs. For too long, they complain, borrowers have been able to call the pricing shots.

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