Bridge book sales begin with Financière CEP buyout loan launch

Drawbridge_AdobeStock_575x375_12May20
By Owen Sanderson
20 May 2020

JP Morgan and Nomura have started the syndication of the loan backing Bridgepoint’s buyout of French mortgage insurance broker Financière CEP, in a sign that market conditions have improved enough to fire the starting gun on the sale of loans underwritten before the coronavirus crisis shut markets.

“We should see some of that backlog start to clear in the weeks ahead,” said a head of leveraged finance capital markets. “There’s a handful of loan deals which should launch in the next few days.”

Banks went into the coronavirus crisis with light bridge books, according to ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial