TOKYO : Japan's financial regulator is exploring ways to bolster financing for leveraged buyouts (LBOs) and is in discussions with big banks and other institutions about how to bring more participants into the market, regulatory officials said.As more corporations step up sales of non-core assets or seek
TOKYO : Japan's financial regulator is exploring ways to bolster financing for leveraged buyouts and is in discussions with big banks and other institutions about how to bring more participants into the market, regulatory officials said.
"We are studying what we could do to have more participants in the LBO market while ensuring that risks are properly controlled," Toshinori Yashiki, deputy director-general at the FSA, said in an interview with Reuters. The limited universe of players means a concentration of risk, which stirred concern among regulators when Marelli Holdings Co, an auto parts supplier bought by KKR & Co in a leveraged deal, requested a massive debt waiver and generated losses for some top banks last year.
As an initial step, the FSA office that monitors major banks has initiated a dialogue with large banks and other financial institutions such as insurers, an FSA official in charge of the dialogue said in a separate interview.Financial institutions have also been moving to widen the investor base for leveraged financing.
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