Publications

Making Lemonade from Lemons: Issuer Bond Repurchases

April 9, 2009
Michael R. Littenberg | James Nicoll

Financing for new private equity-backed acquisitions has all but dried up as a result of the ongoing credit crisis. However, for those companies already in the portfolio, market events have, in many cases, created an opportunity to reduce leverage by repurchasing outstanding bonds at a deep discount.