دانلود کتاب The Refinancing Guide

Are you prepared for the refinancing wall in the European LBO space?With billions of pounds worth of European leveraged buyout loans (LBO) due by 2017, the refinancing wall presents one of the greatest challenges to European buyouts since the global financial crisis impacted the asset class.Strong private equity-backed companies with investment-grade ratings are likely to secure bank or non-bank finance with relative ease. But companies with sub-investment-grade ratings are likely to face considerable refinancing risk, potentially leading to corporate impairments. And a constrained supply of traditional sources of finance increases refinancing risk further. Discover how to refinance successfullyLead edited by Romain Cattet of Marlborough Partners, The Refinancing Guide addresses the refinancing wall and the specific challenges facing European buyout managers and portfolio-company CFOs in the 2013-2017 time period. This ground-breaking publication presents the entire range of finance solutions available, including precise detail on a range of new sources of liquidity, technical innovation in finance structures, LP and GP perspectives, and the role distressed investors will have to play.Featuring in-depth chapters written by leading practitioners, you'll discover refinancing solutions in diverse areas of European finance. An A-list team of experts will guide you through the intricacies of finance choices, and how these choices will shape companies' capital structures and their financial health going forward.Key topics covered include:• How to choose additional sources of liquidity in the European market, including high-yield bonds, private debt funds, retails bonds, asset-based lending and mezzanine • The different solutions available when refinancing is no longer an option, and how structural deal innovations will offer a refinancing option for a broader group of companies