The biggest investor retreat from the U.S. leveraged loan market since 2011 is taking place just as a flurry of mergers and acquisitions needs to get funded with noninvestment grade debt.
Dealmakers are planning more than $85 billion in loans, including about $10 billion that’s now being marketed, according to data compiled by Bloomberg. Burger King Worldwide Inc. will seek a $6.75 billion term loan to buy Tim Hortons Inc., the largest financing of its kind since the collapse of Lehman Brothers Holdings Inc. in 2008, and Scientific Games Corp. is raising $1.74 billion for its purchase of Bally Technologies Inc.
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