Private equity sponsors are increasingly tapping leveraged loan and high-yield bond markets to extract cash from portfolio companies through dividend recapitalisations, as constrained deal exits and strong investor demand for floating-rate debt converge to reopen a once-cyclical payout strategy, according to a report by the Business Times.
Recent transactions from sponsors including Blackstone Inc and Warburg Pincus have contributed to a sharp rise in issuance, including multiple financings tied...
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