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Low Rates Drive Risky PIK Financing To Pre-Crisis Levels

By Kaitlyn Kiernan ( June 25, 2014, 4:33 PM EDT) -- Risky payment-in-kind debt financing, which allows borrowers to pay interest by piling on new debt instead of paying cash, has regained popularity with issuances this year, soaring to the highest level since early 2008 — the latest sign that capital markets have shed the crisis-era sense of caution....

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