Five months in, and already Europe’s gaggle of private equity groups has extracted more equity from their portfolios – €2.3 billion no less in the first quarter alone – via debt-led recapitalisations than in the whole of 2012.
3 min read · 31 May 2013
Refinancings should continue to provide opportunities for investors as companies are forced to adjust their capital structures, according to Marc Ciancimino, head of KKR’s mezzanine group.
2 min read · 30 May 2013
The sun rose today. A mother made breakfast. A child complained about having to go to school. A composed yet another study about the wall of refinancing that may in fact sink us all.
2 min read · 23 May 2013
Frothy, or just buoyant? The debt markets at present continue to go from strength to strength with investor appetite for yield driving issuers to push their luck.
2 min read · 17 May 2013
It’s an age-old statement uttered by drunks and investors everywhere: “I can’t believe I did that”.
3 min read · 10 May 2013
“When you see the high yield market below 600 bps, run – do not walk, run – the other way.”
2 min read · 03 May 2013
Credit market euphoria is creating the next wave of distressed investment opportunities, according to Wilbur Ross and Apollo's Joshua Harris, who spoke at the Milken Institute's Global Conference this week.
3 min read · 01 May 2013
Apollo's been taking advantage of buoyant markets on the sell-side, while targeting non-traditional deals including buying some $12bn in European loans over the past 36 months, according to founder Leon Black (pictured).
3 min read · 01 May 2013
In the 2009 film ‘The Hangover’, the protagonists begin their apocalyptic, eve-of-wedding bender at Caesars Palace. The fallout from their exploits proved predictably catastrophic.
2 min read · 26 April 2013
It’s tempting to view debt finance as simply numbers on a balance sheet. But for borrowers, living and working with debt is a daily issue. That’s why putting together an appropriate capital structure is so important.
2 min read · 19 April 2013
