Hurrah! Underwriting is back for good

21 Apr 2009

The recent underwritten facilities for Premier Oil and K+S were more than just one-off deals. In fact, according to an overwhelming 74% of voters in our poll conducted over the last two weeks, these loans could herald the return of underwriting in Europe — an idea which seemed unthinkable just a few months ago, when many loans bankers predicted such a revival could take over a year.

UK company Premier Oil’s $550m loan became one of the first European underwritten facilities of the year in March — far earlier than many had expected — and the deal was quickly followed by a Eu1.14bn underwritten loan for Germany’s K+S. With only three banks providing the funding ...

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