The UK was one of just three countries to see a decline in the total cost of borrowing in CBRE’s third-quarter European Debt Map.
The total cost of debt fell from 2.92% to 2.79% in Q3, although the report showed that shifts in the UK debt market favoured neither borrowers nor lenders since both senior margins and loan-to-value ratios fell.
In Europe as a whole, the cost of borrowing rose 11bp to 2.28%. The rise was particularly high in Central and Eastern Europe, where total cost was up 32bp to 3.06%.
Ireland and Spain were the