Opportunity knocks for willing loan market

Early in 2011, a deal for Cades blazed across the syndicated loan market as lenders clamoured to be part of the commercial paper back-up facility. More recently, stricken Spanish region Generalitat de Catalunya approached the bank market for a Eu2bn term loan, unable to raise money in the bond markets. Is the loan market becoming a genuine funding alternative for surpanationals and agencies? Nina Flitman investigates.