UK companies have successfully refinanced 83 per cent of their bank debt that is due to mature this year, alleviating fears borne at the start of the year that they would not find the money to do so.
At the start of 2009, FTSE 350 companies had £29.2bn of bank debt outstanding to be repaid this year but, after having repaid £12.5bn during the third quarter of this year, only £4.7bn in syndicated bank debt remains to be refinanced, according to Bloomberg data analysed by lawyers at Freshfields Bruckhaus Deringer.
