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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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Some borrowers are working with a smaller number of banks in a tough market -
UK social housing will be squeezed between ethical and financial imperatives
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No immediate impact on UK banks’ and insurers’ capital ratios, but tests signal later recalibration likely to follow
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Investors see little reason to play in primary
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