TITLE

PE Shops Press for Better Junk Terms

AUTHOR(S)
Friedlander, Josh
PUB. DATE
June 2005
SOURCE
Investment Dealers' Digest;6/6/2005, Vol. 72 Issue 22, p10
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article focuses on trends in private equity firms. Some financial sponsors are now pushing for more flexibility in the covenants--or the restrictions around a company's capital structure--that govern their high-yield borrowings. Private equity firms would like to see covenant restrictions eased in part out of a desire to securitize pieces of the companies they have purchased. More recently, private equity firms have expressed interest in securitizing future revenue streams, a financing that would tend to work best for companies that have highly predictable earnings, such as music or film companies or fast-food franchisers.
ACCESSION #
17234412

 

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