As borrowing rates have retreated from last summer’s highs, some life has returned to the leveraged finance market. The leveraged buyout (LBO) market itself remains quiet, however, so the emphasis has been on refinancing or extending existing deals. This has kept Deutsche Bank’s leveraged debt capital markets team busy for the past few months.
The leveraged finance market all but closed down after Russia invaded Ukraine in February 2022, and remained suspended as inflation shot up and central banks hiked aggressively.
