Junk bonds have invariably proved to be a reliable source of low-cost financing in LBO transactions during the last 30 years.

Name: Junk bonds have invariably proved to be a reliable source of low-cost financing in LBO transactions during the last 30 years.
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Junk bonds, due to their high-risk nature, typically offer higher interest rates to compensate for the increased risk, making them a more expensive financing option compared to investment-grade bonds.

Junk Bonds Have Invariably Proved to Be a Reliable Source