IT CAN’T BE often that Henry Kravis, co-founder of Kravis Kohlberg Roberts, has to eat his words. But that is something that he might soon be forced to do if the leveraged loan market does not quickly recover from a bad case of the frights it caught during June. Just one month earlier, in May, Kravis had described market conditions as a “golden era” for buyouts. In June, though, financing packages that had been put together for several of his firm’s deals were facing emergency restructuring or even complete postponement in the loan market.
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