Saturday, 25 October 2014
Last updated 15 hours ago
Oct 16 2013 | 10:59am ET
Private-equity firms are taking advantage of loosening credit markets to refinance cash-strapped portfolio companies in Europe.
Standard & Poor's Leveraged Commentary and Data shows that p.e.-owned European companies have refinanced €23 billion in debt this year, a record. Last year, the total amount of renegotiated debt on the loan and high-yield bond markets was €17 billion.
Renegotiated debt also hit a record in the U.S. this year, with US$149 billion in refinancing volume, as borrowing costs have dropped.
Dividend recapitalizations are also up this year, at US$11.2 billion in Europe, according to S&P, the highest level since 2007.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
David and James Hamman launched their fundamental Livestock and Grains Program in March of 2010 but it really was decades in the making.