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After a quieter spell leading up to the US elections, leveraged finance markets are picking up pace for what looks to be a lively year-end push.

"We expect up to €5bn of floating rate paper, and up to €2bn of fixed rate paper, in the coming weeks. It’s shaping up to be one of the busiest year-ends we have seen in a while,” said Preveen Samarasinghe, managing director on Bank of America’s European leveraged finance capital markets desk.

Sources expect near-term loan deals from issuers including French packagers and industrial companies, as well as a Luxembourg-based healthcare provider and a Spanish pharma business. Telco deals should come from the Netherlands, the UK and Germany, 9fin sources added.

Early 2025 is also shaping up: VDK Groep, the installation and maintenance firm owned by EMK Capital, has opted for a syndicated refinancing in January instead of a private credit deal. The banks were pitching a €690m TLB with room for an additional €160m of the undrawn RCF to be refinanced, as 9fin reported last month.