Mid-cap leveraged borrowers turn to unitranche loans
Medium-sized leveraged companies are increasingly turning to unitranche debt as an alternative means of funding buyouts, according to a new report by Altium, a debt advisor. Leveraged loan issuance overall, meanwhile, reached a six year high in 2013.
In its MidCapMonitor review of the fourth quarter of last year, Altium listed 24 unitranche deals for the whole of 2013. These transactions “have become much more popular during 2013,” the firm said.
Unitranche debt combines first and second lien credit facilities into a single debt instrument, with
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