Leveraged recapitalizations have grown in popularity throughout the past year as private equity sponsors go to market with the companies they already own – taking advantage of cheap funding in order to take money out of their businesses. But, according to market players, this is getting more difficult as conditions in the LBO market are becoming more selective.
Rates for such deals are rising as credit quality drops and existing leverage increases. The market is there for higher-quality recapitalizations.
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