(Reuters) - Private equity firms increasingly are relying on loans over bonds because loans can be repaid early without penalty. Hedge funds also prefer so-called covenant-lite loans, or loans lacking traditional restrictions on borrowers, which can be packaged into collateralized loan obligations.
Leveraged M&A activity doubled to almost $100 billion in the first quarter, with half of that coming from a record $50 billion in leveraged buyout loans, according to data from Reuters Loan Pricing Corp.
Read more at Reuters.com Bonds News
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