Debt specialist Intermediate Capital Group is expecting the market for collateralised loan obligations, a type of sliced and diced corporate loan that fell out of favour after the financial crash, to return in Europe after a year that saw the firm commit €950 million to the asset class.

Speaking to Financial News today following the announcement of the firm's half-year results, ICG's managing director Philip Keller said: "I think the market is going to come back but I don't think it will have the same confidence that we've seen in the US. There was a bit of pent up demand for new CLOs because the old CLOs are running off."