Banks reward bold Melrose with M&A financing scarce

Investment company Melrose has completed its $1.25bn loan syndication, according to a banker on the deal. The borrower is one of very few to have launched a deal since the UK’s referendum on EU membership on June 23, but its oversubscription in syndication signalled that borrowers brave enough to try for loans will be rewarded, as banks continue to battle it out for market share. Robert Cooke reports.