Entries tagged "HCA"
CLO funds have been willing to allow maturities to be stretched out. Why are they being so easy?
HCA tried to persuade investors to give it freedom to deal with its debt. They resisted. CLOs have a strong incentive to approve HCA's request because of the size of its loans and the prospect that they might be repaid early if HCA issues more bonds to reduce its senior debt.
The good news: Private equity is sitting on billions in investor capital. The bad news: It faces masses of maturing debt, some dicey investments and great uncertainty.
Private equity can't get back to business until it figures out what to do with $430 billion in loans due between 2012 and 2014.
A look at the 10 biggest buyout deals of the golden age reveals a few are suffering, but more are doing just fine -- for now.
