Amends and extends won’t satisfy banks’ hunger

A flurry of borrowers are speaking to lenders about amending and extending transactions priced in 2009. EnBW, BSkyB and FrieslandCampina are all in discussions with their relationship banks. However, with only a trickle of newly syndicated deals, the amendments are not doing much to quell the glut of liquidity in the market, and as bankers become increasingly frustrated at the lack of new money deals, margins look set to tighten further. For more on borrowers speaking to banks about tweaking their facilities, read EuroWeek this Friday.