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LBOs remain vulnerable to restructuring, says Pimco’s Jessop

Author: Rob Davies

Source: Credit | 18 Aug 2010

Categories: Cash Bonds

Topics: High yield, Pimco, Default risk, Leveraged buy-out (LBO)

Jessop, Pimco: Companies such as TXU, First Data or Harris could struggle to refinance debt

A large number of covenant-lite loans used to finance leveraged buyouts in the latter stages of the credit bubble are not refinanceable, according to Andrew...

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LBOs remain vulnerable to restructuring, says Pimco’s Jessop

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