Sunday, 4 October 2015
Last updated 1 day 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.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…