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Private Equity Leveraged Finance

White & Case LLP

European leveraged finance reignited

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After a period of volatility, Europe’s leveraged finance market is primed for resurgence, with new and exciting opportunities available to lenders and borrowers alike - Leveraged finance markets in Europe have entered 2025...more

White & Case LLP

European leveraged finance: A market reawakened

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European leveraged finance markets back on track -European leveraged finance markets rallied strongly in 2024, with momentum for new deals and opportunities for borrowers and lenders alike in 2025 - Europe's leveraged...more

Cadwalader, Wickersham & Taft LLP

Back-Leverage to the Future January 2025 - Single-Asset Back-Leverage Facilities for Private Credit Loans

As regular Fund Finance Friday readers know, articles in this newsletter often explore emerging trends in fund finance and fund finance-adjacent areas, and in this article, we will look at single-asset back-leverage (“SABL”)...more

Ropes & Gray LLP

U.S. Private Equity Market Recap - January 2025

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U.S. PE deal activity: Deal activity was slightly down in 2024 with a 3% YoY decline, while deal value was up 14%. Transaction activity did not make the strong comeback dealmakers were hoping for in 2024 as investors...more

Walkers

Acquisition and Leveraged Finance in the Channel Islands

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Jersey and Guernsey (collectively, the "Channel Islands") remain popular for both private equity buyout structures of UK and international corporate groups across various industries and asset classes, and for leverage...more

A&O Shearman

Syndicated DDTLs: New territory for acquisition lines?

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We are increasingly seeing requests for a committed acquisition/capex facility – often referred to as a Delayed Draw Term Loan (DDTL) – to be included as part of the initial capital structure on European syndicated leveraged...more

Proskauer - Private Market Talks Podcast

[Podcast] Private Market Talks: Thinking Different in Direct Lending with Hayfin’s Tim Flynn

On this episode of Private Market Talks, we’re joined by Tim Flynn, Co-Founder and CEO of Hayfin, an alternative asset manager that has invested €35 billion of capital across more than 470 portfolio companies since its...more

White & Case LLP

European leveraged finance: A whole new world

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European leveraged finance in 2023 was saddled with the negative effects of elevated interest rates. But as the market adjusts to the “new normal”, rate and price stability offer hope for a brighter 2024. -Rising interest...more

White & Case LLP

Global PE activity returns to baseline as boom fades

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Aggregate global buyout value dipped sharply in the second half of 2022 reverting to pre-pandemic levels—the first three months of 2023, however, have seen an uptick in volume...more

Akin Gump Strauss Hauer & Feld LLP

Private Credit Insights: Hybrid Capital: Downside Protections for Private Credit Funds in an Opportunistic Market

As a result of a combination of well documented macro-economic factors, new money financings backing traditional private equity (PE) activity has stalled so far in 2023. With a vast amount of PE capital at the ready,...more

White & Case LLP

Private debt players open for business, but only on the right terms

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Private debt managers seized the opportunity to win market share in 2022 as leveraged loan and high yield bond activity slowed—moving into 2023, private debt players remain open for business, but mainly on their terms - ...more

Goodwin

Debt Download - February 2023

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Welcome to Goodwin's Debt Download, our monthly newsletter covering what you need to know in the leveraged finance market. We hope you’re staying warm during the winter doldrums....more

Goodwin

Debt Download - January 2023

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Welcome to Debt Download, Goodwin’s monthly newsletter covering what you need to know in the leveraged finance market. We hope your year is off to a good start!...more

Latham & Watkins LLP

The Acquisition and Leveraged Finance Review, 9th Edition - Spain

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Market conditions have remained challenging through the past year. The post-pandemic recovery globally saw a significant setback as a result of the war in Ukraine, which exacerbated the pre-existing market issues and led to...more

White & Case LLP

The Basics of P2P Acquisition Financing

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A public-to-private transaction ("P2P") is one in which a publicly listed company is acquired and taken into private ownership. Because they involve changes in ownership of public companies, P2Ps are subject to various...more

Hogan Lovells

UK Take-Privates funded by Private Credit

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The provision of leveraged financing to help fund the acquisition of listed companies into sponsor-backed private ownership (“P2Ps”) is a well-trodden path....more

White & Case LLP

Buyout momentum paints a strong picture for issuance in 2022

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HEADLINES - ▪️ Buyout deal value in Western Europe hit an all-time record high by the end of 2021, more than doubling year-on-year  ▪️ Private equity (PE) activity supported an 81% uplift in buyout loan issuance...more

White & Case LLP

Buy-and-build boom sees add-on debt surge

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Issuers are tapping institutional loan markets for add-on debt at a rapid pace as private equity firms turn to buy-and-build strategies to lower entry multiples and accelerate deployment - Debt issuance to fund add-on...more

White & Case LLP

Buyout momentum paints a strong picture for issuance in 2022

White & Case LLP on

HEADLINES - • Buyout deal value in Western Europe hit an all-time record high by the end of 2021, more than doubling year-on-year • Private equity (PE) activity supported an 81% uplift in buyout loan issuance...more

White & Case LLP

Five factors driving leveraged finance in 2022

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It was a year of rebounds in 2021, from the early hike in refinancing activity to the subsequent surge in M&A and buyout deals, as well as frenetic activity in the PE space, all of which contributed to a noteworthy uptick in...more

Latham & Watkins LLP

The Acquisition and Leveraged Finance Review, 8th Edition - Spain

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It is fair to say that the acquisition and leveraged finance industry has shown resilience in relation to the difficult global situation arising from the covid-19 pandemic, particularly in comparison to the previous global...more

Latham & Watkins LLP

The Acquisition and Leveraged Finance Review, 8th Edition - United States

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It is fair to say that the acquisition and leveraged finance industry has shown resilience in relation to the difficult global situation arising from the covid-19 pandemic, particularly in comparison to the previous global...more

White & Case LLP

Active private equity firms buoy buyout issuance

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Issuance of leveraged loans and high yield bonds to fund buyouts surged to quarterly highs in 2021 as private equity sponsors raised their investment game - Buyouts are back in a big way. Private equity (PE) firms around...more

Latham & Watkins LLP

Could PE Benefit From the Universal Adoption of “Super Senior” RCFs in Leveraged Financings?

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Undrawn credit lines are essential to private equity but in short supply from banks. Undrawn revolving credit facilities (RCFs) are essential to private equity. They are a backup in the event of mismatches in the working...more

White & Case LLP

Fund finance: Harnessing NAV finance in new ways

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Demand for net asset value (NAV) finance—where private equity (PE) firms raise borrowings against the NAV of the assets in their funds—is on the rise. NAV finance is still a relatively esoteric, industry-specific product, and...more

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