Investor appetite for European corporate credit is allowing private equity firms to secure pre-crisis terms on portfolio companies that were originally financed more conservatively.

EQT-backed BSN Medical is one such firm, securing a second cut in the interest rate on its loan package in a matter of days. The German medical supply manufacturer sought last week to reduce the interest rate on part of its euro and US dollar-denominated loan package by between 50 basis points and 75 basis points through a refinancing, and this week secured a further 25 basis point reduction to its debt package, said two people familiar with the matter.