JPMorgan Chase & Co. is working with about 10 stressed or distressed borrowers in Europe hoping to lower the cost of government bailout loans in the debt market, according to senior bankers.Most of the companies are trying to offload loans made last year to help them survive the pandemic and lock in lower rates, Daniel Rudnicki Schlumberger, the bank’s co-head of EMEA leveraged finance said in an interview with Bloomberg News.Also Read Life lessons from Covidian era startupsInterest costs for state-backed rescue packages typically rise over time, making them increasingly expensive.
Meanwhile, central bank stimulus measures and investor demand have driven borrowing costs close to all-time lows. The deals are also part of JPMorgan’s strategy.