Top LBO Trio Tighten Grip But Primary Market Slows

After a hectic year in 2006, the acquisition finance market is beginning to slow down. Now it is becoming increasingly important for leading finance partners to position themselves with banks and sponsors that are still getting deals to market. 

"It would be premature to say that this marks the death of permanent senior debt," explains Stephen Gillespie, a finance partner at Kirkland & Ellis in London, " but current liquidity and the convergence between bank and bond investor bases gives sponsors a greater degree of choice than in the past."

This article appeared in its entirety in the March 1, 2007 edition of Legal Week.