UK levfin faces obstruction as Brexit chaos reigns
Leveraged finance bankers say they have a substantial deal pipeline in sterling to execute this autumn, while the UK's fall into political chaos threatens market volatility. Sub-investment grade buyers are likely to be offered buyout debt for Ei Group, Merlin and BCA Marketplace, among a flood of business totalling at least £15bn ($18.5bn), writes Owen Sanderson.
Underwriters of UK deals have wrestled with the same dilemma all summer: picking the right window to clear chunky debt packages for a string of buyouts while political instability and uncertainty over the country’s relationship with the European Union mount.Lead managers have a jam-packed pipeline of UK ...
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