In the German market, market participants use cross border financing for a variety of different purposes, including acquisitions, refinancings and leveraged buyouts (LBOs). LBOs are usually financed by way of senior debt provided by banks or institutional investors, and/or by way of (high yield) bonds. In particular, with respect to the mid-cap market, the market share of debt funds providing unitranche financings has increased significantly. Unitranches and high yield (HY) bonds are usually supported by revolving credit facilities provided by banks for general corporate purposes. Corporate financing is regularly structured as bank loans and, depending on the size, combined with bonds.