Deals
Leveraged Loans Rebuffed by U.S. Embraced in Yield-Hungry Europe
- Borrowers make `opportunistic attempt' to get better rates
- Keurig Green Mountain expands euro loan by almost four fold
This article is for subscribers only.
Borrowers that are getting the cold shoulder in the U.S. to fund highly leveraged corporate takeovers are being welcomed in Europe, where central bankers are keeping the money spigots open wide.
Keurig Green Mountain Inc., a coffee brewer being acquired by a JAB Holding Co.-led investor group, boosted the euro portion of a loan financing almost four fold to 900 million euros ($1.01 billion). The company had faced tepid demand in the U.S., people with knowledge of the matter said. U.S. companies have borrowed about $1.28 billion in Europe so far this year, putting them on track to exceed the $9.4 billion they borrowed for all of last year, according to data compiled by Bloomberg.