Private Equity Firms' Distressed Company Handovers Signal Trouble for Lenders
TL;DR
The bankruptcy of GenesisCare, a cancer treatment specialist backed by KKR & Co. and China Resources Pharmaceutical Group Ltd., serves as a warning for lenders as corporate failures continue to rise. Debt investors are struggling to salvage money from bankrupt companies, highlighting the low recovery rates in the leveraged-loan market and the impact of looser loan protections for private equity-backed firms.
- KKR's Latest Bankruptcy Deal Is a Bad Omen for Lenders Bloomberg
- FirstFT: Private equity firms hand over distressed companies to rivals Financial Times
- KKR’s Latest Bankruptcy Deal Is a Bad Omen for Lenders Yahoo Finance
- KKR's Latest Bankruptcy Deal Is a Bad Omen for Lenders Financial Post
- Private equity firms hand over distressed companies to rivals Financial Times
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