IG loses G4S, leveraged still stuck with ISS

The European loan market was left to rue a big missed chance this week when UK security firm G4S pulled out of its bid for Danish services company ISS. Deutsche Bank, HSBC and RBS had underwritten €4.1bn of euro loans and £1.33bn of sterling to support the acquisition. The deal was set to be the market’s biggest M&A deal of the year.