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The Boston Globe

Business

Bain Capital and junk bonds

Specialty Retailers, acquired in the late 1980s by Bain Capital, was the buyout firm’s most ambitious and risky deal up to that time. Mitt Romney helped arrange $300 million in junk bond financing with Michael Milken’s investment bank.

1988 Bain Capital invests $10 million to create Houston department store chain Specialty Retailers Inc. It borrows $300 million in junk bonds from Drexel Burnham Lambert to finance the deal.

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