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In the context of a leveraged buyout (LBO) transaction, which of the following best describes...

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Finance

In the context of a leveraged buyout (LBO) transaction, which of the following best describes the role of unitranche debt?
a, It is a senior debt facility that provides the primary layer of financing but with a lower interest rate due to the absence of subordinated debt.
b, It combines senior and subordinated debt into a single debt instrument to simplify the capital structure.
c, It refers to debt that is convertible into equity at the discretion of the borrower.
d, It is unsecured debt that ranks below all other debts and equity in the event of a bankruptcy.

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