Butterworths Journal of International Banking and Financial Law, Vol. 30 - No. 2

The recent financial crisis, the regulatory restrictions imposed by the Basel III regulations and the associated widespread de-leveraging by European banks have created a funding gap for European small and mid-sized companies and have caused them to seek access to alternative sources of capital. As a result, the European market in 2013-2014 has seen the lines between loans and bonds blur into hybrid products as companies look to a broader range of finance options to meet their varying needs.

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