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Market Pressures Test Resilience Of Buyout Boom
By Henny Sender and Serena Ng
Word Count: 1,716
| Companies Featured in This Article: Biomet, Goldman Sachs Capital Partners, Clear Channel Communications
With interest rates moving higher and the stock market suddenly hitting a losing streak, the private-equity firms that have been the driving force behind a historic merger boom now face a crucial test.
Higher rates could drive up the costs of the heavy borrowing that big buyers have relied on to finance deals. Buyout firms and companies are planning to raise more than $250 billion via junk bonds and loans in the coming months to fund deals, according to data from Standard & Poor's Leveraged Commentary & Data and Lehman Brothers. That is about enough money to buy all the ...
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