Wind Hellas bonds could be used for dividend payments

A growing number of private equity firms are taking advantage of Europe's buoyant bond market to extract money from companies they hold by loading them with debt, prompting some investors to warn the fixed income rally is nearing its peak.
Several private equity-backed companies have issued bonds backing "dividend recapitalizations" in recent weeks - a term that refers to the contentious practice of companies issuing debt to pay dividends to the owner.
Switzerland's Salt and Greece's Wind Hellas have issued debt which included language allowing for the proceeds to be used for dividend payments.
[Reuters]