Borrowers are taking advantage of demand for floating-rate assets by increasing the size of their leveraged loans while also reducing their interest payments, which bodes well for a pipeline of large buyout transactions set to hit the market in coming months. At least eight issuers over the last two weeks, including Irish pharmaceutical company ICON and decorative lighting designer VISUAL COMFORT, have opted to upsize their first-lien loans, sometimes re-allocating funds from high-yield bond offerings or second-lien portions to feed the demand.
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