Tons of debt refi by PE portcos
I don’t work in PE but I’ve been seeing a lot of portcos refinancing their debt, and intuitively I feel like the current debt market is not one that would be kind to refinancing (large yields, high interest rates, overall more expensive, etc). Did see one instance of a Silver Lake portco (backed by Oaktree and blackrock credit) file for chapter 11. Bad investments always exist, but how long can the current debt and interest rate environments play out like this
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