From spin-off to buyout: How Sungard became a record-breaking deal
WHAT’S THE GUILTY secret that Wall Street corporate financiers don’t want to share? “Around here we say, ‘don’t tell anyone who buys leveraged loans that the high-yield market has backed off’,” jokes a senior US leveraged finance banker about his market.
The way things are going, it might soon be no laughing matter.
In March, the US high-yield market suffered its worst performance in three years. More than $3 billion of capital has flowed out of high-yield mutual funds in recent weeks.
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