Banks ask for flexibility as sponsors eye falling valuations
March 25, 2020 at 17:49 PM EDT
NEW YORK, March 25 (LPC) - Private equity firms sitting on a stockpile of cash are eyeing companies that have dived in value as the coronavirus pandemic causes a sell-off across financial markets. Standing in sponsors’ way could be the flexibility some banks are demanding, concerned about lending into an economy on the cusp of a recession.