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refinancing

Leverage levels are creeping up to 2007 levels, but this time around there’s an added factor – the continued loosening of covenants. Should private equity investors be worried?
Almost all funds the corporate pension invests in have the ability to use a subscription line of credit, according to UPS portfolio manager Brady Hyde.
Concerns over market conditions are prompting investors to seek relative safety, but there are dangers in following the crowd, writes Private Debt Investor senior editor Andy Thomson.
The refinancing redeems the borrower’s outstanding public bonds, with all debt now held by Permira.
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