Sponsors seek specialist debt funds for cash injections as central banks refuse support

By Owen Sanderson
25 Mar 2020

Private equity funds are considering how to support their portfolio companies with cash injections or rescue financings, with some sponsors turning to a select group of specialist buyers still willing to lend money against the right structure.

Many leveraged companies are now seeing their debt marked at deeply distressed levels, effectively closing public market access, and many sponsor-backed companies are drawing down their revolving credit facilities. Public support measures from the central banks largely exclude companies rated below investment grade — meaning management teams must ...

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