LBO investors nervously await 2009 as defaults loom, turmoil continues

13 Oct 2008

Europe’s leveraged loan investors are bracing themselves for a torrid 2009 as recently bought out companies limit their aims to surviving and ensuring they avoid defaulting on their debt.

“It will be a very hard time next year for people with portfolios,” said one institutional investor yesterday (Monday) at a European High Yield Association conference in London. “Among the businesses bought-out in 2006 and 2007, there are hardly any that have kept up with their forecasts.”

Sponsors admitted ...

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