Banks call shots in M&A lending

Tough conditions in the credit markets are no impediment to large deals but, as InBev showed last week, the terms of financing have changed,

Paying by instalments for a television or car is unlikely to raise eyebrows, but when the trend reaches the realms of multi-billion dollar deals people are likely to take notice.

Last week, that’s what happened when Belgian brewer InBev completed the $52bn (€33bn) acquisition of US rival Anheuser-Busch with the support of a $45bn loan, the first $7bn of which will have to be refinanced within the next 12 months.

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Europe Draws Up Retaliatory Tariffs for U.S. Goods in Case No Trade Deal Is ReachedExternal link

Europe Draws Up Retaliatory Tariffs for U.S. Goods in Case No Trade Deal Is Reached