Q&A With Babson Capital On the State Of Your Debt
The Buyouts, IFR and peHUB teams recently spoke with Babson Capital about the state of the debt market. Here’s a few highlights from the conversation with Jill Fields, head of the firm’s high yield group, and Russ Morrison, head of the firm’s bank loan group, discussing why covenant light isn’t the enemy and why private-equity backed companies will lead defaults. We’ve seen a few high yield issuances, is it a sign the markets are opening up? JF: It’s critical we see markets reopened. We’ve done a few deals where there was more interest than was available. We got 1/10 of (the amount of debt) we asked for. So there is a demand, and it gives confidence that there’s liquidity in the market, but everyone wants quality. It also shows
12 March 2009•4 mins read
