Buyout issuance shifts to high yield bonds
Source: Debtwire Par
Buyout financing diverges between markets
Leveraged issuers tapping public syndication for leveraged buyouts have turned to the high yield bond market in recent months, with impressive levels of activity considering the current shortage of new money issuance.
LBOs backed by bond issuance already reached the third highest quarterly datapoint in the last decade at USD 7.6bn even with a month left to round out the second quarter. Four deals make up the value, with the acquisition of Capstone, MoneyGram International, Copeland and TIBCO Software.
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