Dividend Recaps Paced For Record Year After Scorching Q2

Law360, New York (July 22, 2013, 7:35 PM EDT) -- Private equity firms and corporations borrowed $20.6 billion in the second quarter to pay themselves or their shareholders a dividend, a three-month record that puts the leveraged recap market on pace for its best year ever, according to data out Monday.

Despite a "very real slowdown" and more lender pushback on terms and pricing late in the quarter — thanks to market-roiling comments from the Federal Reserve — the period between April and June was the busiest ever, according to Thomson Reuters.

Dividend recapitalizations, which swap...
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