Deutsche says cheap debt hangs over European firms

Newswire

By Elena Moya LONDON, Aug 30 (Reuters) - Rising interest rates and a glut of cheap debt have left a black cloud over some of Europe's corporations that could burst next year, pushing some firms into bankruptcy, a top Deutsche Bank banker said. Increasing appetite for distressed debt -- or loans that trade below face value -- has lifted their price, limiting the potential bargains for investment banks and hedge funds. As a result, the trading of distressed debt will be flat through the ...

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