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Leveraged loans in stressed sectors like software carry refinancing risk
Ferrero International markets €300m deal
Six tranche loan attracts record demand
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New role was created by reorganisation in spring -
Embattled water company already has £1.5bn backstopped as it fights for its future
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Possible fundamental changes to troubled UK water industry to send a chill through bond market
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New facility double the size of deal being refinanced
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Being friends with both sides — and profiting economically — is getting harder
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