M&A: it’s big, and it’s back

With stockmarkets hitting record highs and bond and syndicated loan markets stronger than ever, more and more CEOs are deciding now is the time to make a big merger or acquisition. The biggest M&A financing to hit Europe so far this year, Numericable-SFR, was a storming success, showing that high yield markets are every bit as punchy as investment grade ones. Banks and bond investors are eagerly awaiting more mega-financings, and by the looks of it, more are on the way. Olivier Holmey reports.