The decision by banks to take
steep losses by selling the leveraged debt on their books to private equity firms at a steep discount might not make too much sense to those not in the know. And providing financing to those same buyout shops to buy the debt -- essentially replacing the old debt with new -- may make even less sense (unless you count the nice fat fees the banks will collect from providing new financing). Luckily
Dealbreaker has provided some handy insights into the thinking of the sellers' top executives. -
George White
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