News Digest: Private credit firms prop up struggling public bond deals

May 17, 2022

News Digest:

Private credit arms of leading alternative money managers and private equity firms are underwriting corporate bond deals in public markets of late, including for debt financing for major leveraged buyouts, amid increased volatility in high-yield markets this year.



The jump in so-called ‘hybrid’ financings, where issuers raise capital from both private and public markets, comes as more mainstream asset managers, suffering large redemptions, increasingly become cautious about investing in corporate bonds.



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