Up to 80 per cent of the economic capital put into an LBO doesn't come from private equity funds: it is provided by banks as debt. Given the pivotal role leverage has to play, what's the present state of the leveraged finance market? Robin Burnett reports.
Private Equity International's deal mechanic takes a look under the bonnet of the buyout of Yell, a deal that may yet emerge as European LBO of the year.