When bankers put together a $23.8 billion loan to back Olivetti SpA's hostile run at Telecom Italia SpA, the repercussions of the deal went far beyond the companies immediately involved.

The syndication's success gave the European loan market a whole new look, one that was remarkably like its "anything goes" counterpart in the United States.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.