Private Equity Firms are Purchasing Cheap Debt from Portfolio Companies
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In a land of panicky banks, the fearless, risk-loving private equity firm is king.
With banks conducting fire sales of corporate bonds, capital-potent PE firms are taking advantage of deep discounts and hoovering up the high-yield debt. Even better, a good portion of the bargain corporate debt was issued by companies already in their investment portfolios, Bloomberg reported Wednesday.
Source Fool.com
