IFR’s 2023 German Mittelstand Financing video call took place following what participants described as a disappointing year in terms of activity in the syndicated loan market, which continues to be a key funding source for mid-cap companies. There were a lot of refinancings, just as there had been in 2022, but speakers hadn’t expected that to be such a major driver as clients had sufficient liquidity lines in place and because margins had risen. Given that loan facilities are floating-rate, borrowers had already felt the impact of higher...Read more