Investment banks ride leveraged loan boom

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A boom in issuance of risky debt used to finance takeovers has resulted in a fee bonanza for investment bankers, with revenues generated this year from selling leveraged loans and high-yield bonds close to surpassing their post-crisis peak.

Investment banks have made $10.5bn in revenues from selling leveraged finance deals so far this year, up from $6.9bn in 2016 and have hit the highest level since 2013, according to data from Dealogic.

The surge in fees paid for arranging junk bond and leveraged loan deals reflects an explosion in…

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