Banks have pulled a €550 million ($616 million) loan refinancing for European energy infrastructure and services company Iqony after failing to secure sufficient investor interest amid wider market turmoil.
Goldman Sachs Group and Banco Santander led the loan, which was withdrawn from syndication, according to people familiar with the matter. They asked not to be identified because the transaction was confidential.
The withdrawal marks the second deal to be pulled from Europe’s leveraged finance market in the past week. Lenders had also scrapped plans to sell a loan intended to finance Partners Group Holding’s purchase of Aroma-Zone.
Sources: Bloomberg Markets.