Ceva Santé: bringing cov-lite to the euro

In March, Ceva Santé Animale became the first borrower to raise a cov-lite loan purely in euros since the 2008 financial crisis. Since then, European cov-lite issuance in dollars and euros has rocketed to nearly three times its 2013 level. So how did Ceva begin the dominant trend in leveraged loans for 2014? Ross Lancaster finds out.