2007 was the peak of the last LBO boom and TXU was one of the last and most aggressive transactions of that year. At the time, yield spreads were extremely tight, prompting buyers to reach for higher returns. That demand helped finance a surge in LBO activity.

Flash forward to the present: Tight yield spreads on corporate bonds once again have investors hungering for higher returns. LBO activity has exploded recently and with today’s low interest rates expected to rise, floating-rate loans are in demand.

Since 2012, investors have poured $82.5 billion into high-yield leveraged loans, which are often used to finance buyouts. Look for more TXUs to surface as risky debt matures.