2/19/2008

Lower interest rates are stalling a backlog of leveraged-buyout debt. Banks have had to restructure debt to guarantee yields to investors if rates continue to drop. "New debt is going to be structured more to today's reality. It will have wider spreads, it's much more likely to have Libor floors, more stringent prepayment provisions," said Steve Miller, managing director of Standard & Poor's Leveraged Commentary & Data unit.

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