Mind the Gap: The Difference between U.S. and European Loan Rates

We analyze pricing differences between U.S. and European syndicated loans over the 1992–2014 period. We explicitly distinguish credit lines from term loans. For credit lines, U.S. borrowers pay significantly higher spreads, but lower fees, resulting in similar total costs of borrowing in both market...

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Veröffentlicht in:	The Review of financial studies 2017-03, Vol.30 (3), p.948-987
Hauptverfasser:	Berg, Tobias, Saunders, Anthony, Steffen, Sascha, Streitz, Daniel
Format:	Artikel
Sprache:	eng
Schlagworte:	Comparative analysis Europe Lines of credit Participating loans Pricing policies Studies Term loans United States
Online-Zugang:	Volltext
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