European credit markets are testing the waters for sales of risky debt after the collapse of Silicon Valley Bank and the rescue merger between Credit Suisse (CSGN.S) and UBS (UBSG.S) sparked contagion fears across the financial system.
On Wednesday, building materials distributor Stark Group started selling a new 400 million euros ($431.56 million) loan, according to a memo seen by Reuters.
The sale is a test of investor appetite amid fresh ructions across markets triggered by banking sector turmoil, pushing up the cost of borrowing for lower-rated issuers.
Source : European loan markets aim to revive sales of risky debt