European BSL market upped risk to win deals in 2025 – White & Case
The BSL market issued a higher percentage of loans rated below BB against a backdrop of patchy M&A flow

Largest loan repricing wave sweeps through the market while AI fears drive software sector sell-off
Nord Anglia and INNIO break through 300bps barrier for single-Bs; Team.blue and Dedalus pull deals amid software/tech sell-off

London leveraged finance leaders turn out for melanoma fight
The British Museum played host to the second edition of Leveraged Finance Fights Melanoma (LFFM) London on Wednesday evening, with some 700 attendees from 90 firms across the leveraged finance and private equity helping raise over GBP 1.6m for melanoma research

Loan market steams ahead with new launches as more deals line up in Europe
Flex-downs abound, but Hologic’s sub-300bps spread raises eyebrows, while performance in focus for Archroma, Seqens and Lipton Tea

Key theme for 2026 will be growth in the loan market – Eagle Point founder Tom Majewski

Growth in the loan market will be an important market driver this year, the founder of Eagle Point Credit Management says on the latest episode of Credit Exchange with Lisa Lee; also shares Eagle Point ressearch that shows LMEs at 2% per year on top of default rates

Repricings comprise half of European levloans’ record year, new money drops to lowest level since GFC
The European leveraged loan market reached its highest yearly issuance volume ever in 2025, according to Debtwire data, driven by repricings

Muzinich and SMBC partner on European loan originations
The partnership will focus on double B and single B-rated new issues in the European public broadly syndicated loan market

BoE highlights weaknesses in CLO market following First Brands, Tricolor
The central bank will soon begin its stress test of private markets, amid concerns around weaknesses in higher-risk credit solutions

LME litigation in Europe in focus as Hunkemöller and Selecta bondholders fight back
ANALYSIS: Selecta sees use of creditor cooperation agreement challenged as anticompetitive in court; More LMEs and litigation expected in Europe next year and beyond

Janus Henderson warns of underperformance in stressed loan market
The asset manager highlighted ‘pockets of fragility’ as the loan markets bifurcate

First Brands' German subsidiaries file for insolvency
Four entities impacted, including Diepersdorf and SMK; Over 1,000 employees' salaries secured for two months

Platinum talks A&E with Biscuit International’s lenders, could subordinate sponsor debt
EXCLUSIVE: Bilateral talks held; Platinum holds EUR 80m notes ranking pari passu with TLB

First Brands factoring provider Raistone seeks examiner over USD 2.3bn in missing funds
Alleged disappearance of third-party factored receivables sparks demands for the appointment of an examiner

First Brands' distorted balance sheets serve as warning to private credit lenders – Market React
Company secured fresh debt despite missing payments to Onset Financial; Special committee investigates double invoice pledging

Altice France new capital structure starts trading as investors consider M&A potential
Restructuring completed as secured debt trades; break-up of Altice France business possible through sector consolidation

Apollo to launch three evergreen funds in Europe to tap individual investors
Apollo has secured regulatory approval in Luxembourg for three semi-liquid evergreen private markets funds including two credit ones

Evolving M&A is transforming the capital formation landscape – KKR
'Critical' link between M&A and credit is set to fuel growth in private markets

JPMorgan credit research team pitches top trades at levfin conference, strategists recommend overweight BBs
Buy opportunities in AT1 debt, periphery banks, Ardagh Metal, Altice France, Ithaca; Sell ideas on Guala Closures, Nissan, Nomad Foods, Hapag Lloyd
 

Corporate default rates predicted to fall despite tariff uncertainty - S&P
Speculative-grade corporate default rates expected to fall on both sides of the Atlantic as trade tension uncertainty eases, but some concerns remain

Pimco urges caution in credit markets despite recent resilience
The resilience of the private sector has supported the credit market in the first half of the year, despite “whipsawing” market volatility, a new report from Pimco has found. 

European CLOs back on track for record year, but caution remains – Global ABS panellists
Panellists at this year’s Global ABS conference in Barcelona say European CLO issuance has recovered from its April hiatus – but concerns remain, especially over lack of leveraged loan supply and deteriorating credit quality

Hayfin hires Man's former CLO PM for European high yield, loans research
Jason Late will serve as a co-portfolio manager for the European high yield and syndicated loan strategy

Volatility could cause credit markets to break this year – TCW’s Bryan Whalen
PODCAST: Investors aren’t being paid enough of a premium for the risks in US corporate credit, TCW’s chief investment officer of fixed income told Creditflux’s Lisa Lee on the latest ‘Credit Exchange’ podcast  

Buyout Highlights - Overview of Europe Buyout and Financing Trends 1Q25
Leveraged loans are again the main source of financing for LBOs in Europe, providing 65% of the total volume issued in 1Q25  

Tariffs will push up default rates for several years, say agencies and managers
After an uptick in leveraged loan defaults culled weaker credits in 2024, many expected default rates to fall in 2025. But the uncertainty stemming from the Trump administration’s tariffs means those assumptions are now under threat