Law Firms Pin Recovery Hopes On Debt Refinancing

Law360, New York (September 9, 2009, 6:46 PM EDT) -- A rush for corporations to refinance debt is under way as the capital markets start to show signs of life, creating much demand for legal advisory services to help companies examine their growing — although not necessarily ideal — range of options.

Investors show an appetite for high-yield debt, or so-called junk bonds, and equity markets are strengthening, although cautious corporate borrowers don't want to press their luck on how long those trends might last, attorneys said.

Even if the deals come with high interest rates...
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