Baker Tilly has abandoned plans for a roughly $3bn leveraged loan refinancing after investor demand fell short of expectations, highlighting the increasingly selective conditions facing PE-backed borrowers in the syndicated debt market, according to a report by Bloomberg.
The accounting services firm, which is owned by Hellman & Friedman and Valeas Capital Partners, had sought to refinance existing private credit borrowings while also raising additional capital to fund a shareholder dividend...
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