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Capital Structure of an LBO

First published on the BSPE blog By Dorina Barna and Boris Mihaylov LBO stands for Leveraged Buyout and refers to the purchase of a company while using a significant amount of debt to finance the transaction. Usually, the assets of the company being acquired and sometimes those of the acquiring company are

Overview of the Leveraged Finance business

First published on the BSPE blog By Konstantin Barakos Introduction What is Leveraged Finance? It’s actually fairly straightforward – the answer is right there in the name! Leveraged finance describes a corporate acquisition financed through leverage. End of story; roll credits. Ok, since I brought up the term credits, I should mention that Leveraged Finance participants

Q1 2020 EMEA PE-backed M&A Roundup

By Matteo Lana, Francesco Biondo and Antonio Gagliardi As economy insiders know: Q1 2020 will be remembered as one of the darkest periods in the history of capitalism. As Covid-19 spreads worldwide, countries established lockdowns which result in real economic slumps. Despite this, it is clear that as things stand we

Pocket Aces for (Distressed) PE?

By Stefan Larsen Loan sharks and bookies are famed for having little patience for outstanding debts – we learned this from Tony Soprano and almost every character portrayed by Joe Pesci. Ironically however, the script appears to have been flipped for their legal counterparts today. In the carnage that was March’s public markets, no

PE & VC Trends in LATAM

By Adem Abbas and Fabrizio Coccaro Initially posted on the BSPEC blog Introduction Last year, many investors began noticing Latin America for their large private equity and venture capital deals, often backed by the SoftBank group. With 20% of Softbank’s fund portfolio invested into countries such as Mexico and Colombia due to their

Walgreens-Boots LBO

By Thor Höfs and Jakob Jones Initially posted on the BSPEC blog With a market capitalization of over $52 billion and a prominent position in the American, British, and global pharmaceutical market, the Walgreens Boots Alliance is now at the center of what could be the largest leveraged buyout in history. The

Bridge Loans in Private Equity

By Boris Mihaylov and Konstantin Ba Initially posted on the BSPEC blog The world of private equity requires funds to react immediately to potential purchase opportunities. But what if an attractive opportunity arises during the draw down period and the funds required exceed the sum of collected commitments? Bridge loans (appropriately labeled