It's no secret that finding investors for buyout loans has gotten a lot tougher. Business Week Online notes the flipside of the problem: existing debt that was used to finance previously completed deals are tanking. Overall, nearly one-third of bonds issued to complete private equity deals since 2002 now trade at a discount (FridsonVision). This of course amounts to a huge vote of no-confidence. It certainly suggests that the market for buyout loans will not be making a comeback anytime soon. There are those who deem this an opportunity. We'll see how long it takes for them to be proven right.  

For more:
- here's the Business Week Online article