Money tap. Photo courtesy of alexsl/iStock/Getty Images
No sub-debt in capital structure today
Strong environment for first-lien bank loans
Borrowers able to syndicate out senior debt
Debt levels on large US buyouts are approaching heights not seen since the peak era in 2007. Leverage levels on large U.S. leveraged buyouts in the third quarter hit the highest debt-to-EBITDA ratio since the global financial crisis, according to ...