Financing buyouts in the high-yield bond market
Article Abstract:
Financing management buyout deals with high-yield bonds allows a more flexible arrangement of funding. High-yield deals are usually those worth over $100 million, with maturities from seven to 12 years. High-yield bonds are being to be used for many large buyout transactions in Europe. There have been three successful deutschmark high-yield issues in Germany, such as in the purchase of Geberit by Doughty Hanson for Sfr1.8 billion. The UK sterling bond market is growing, with some 24 billion pounds sterling worth of bonds issued in the first six months of 1997.
Publication Name: Acquisitions Monthly
Subject: Business, international
ISSN: 0952-3618
Year: 1997
User Contributions:
Comment about this article or add new information about this topic:
The mature debt market: the senior debt market has rarely been more competitive, with banks under pressure to differentiate themselves from each other
Article Abstract:
The leveraged senior debt market is price competitive with many banks claiming to lead and arrange debt funding for leveraged transactions, each with different lending criteria. However many equity institutions believe that selecting a banking partner should not depend solely on fees and margins. Transactions are becoming more complex and examples of Hambros's involvement in leveraged debt deals are described.
Publication Name: Acquisitions Monthly
Subject: Business, international
ISSN: 0952-3618
Year: 1996
User Contributions:
Comment about this article or add new information about this topic:
The changing marketplace
Article Abstract:
Senior debt in the UK buyout market has been influenced by an expanding market, threats of overheating, continental pressures and investor worries which forced many banks with unexpected debts by the end of 1998. The 1999 market is expected to see gearing ratios continue to fall, especially in the under 100 million pounds sterling sector.
Publication Name: Acquisitions Monthly
Subject: Business, international
ISSN: 0952-3618
Year: 1999
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Traps of the free market. Trading places. Relocation: moving with the times
- Abstracts: Vendors putting a price on the environment. The right environment for investment. Environmental due diligence grows up
- Abstracts: Restructurings, refinancings and rescues. Refinancings and recapitalisations. Does your adviser fit the bill?
- Abstracts: Development capital on the southern coast. Back to the future. Direct financing arrives
- Abstracts: Planning and performance in state-owned enterprises: a multidimensional assessment. part 2 A heuristic for blocking flow algorithms