pˌiːˌaɪkˈeɪz ɪn lˈɛvɚɹɪdʒd bˈaɪaʊts tˈɪpɪkli kˈæɹi ɐ səbstˈænʃəli hˈaɪɚɹ ˈɪntɹɛst ænd fˈiː bˈɜːdən kəmpˈɛɹd tə sˈiːnjɚ lˈoʊnz, sˈɛkənd lˈiːən lˈoʊnz, ænd mˈɛzənˌiːn lˈoʊnz ʌvðə sˈeɪm tɹænsˈækʃən.
PIKs in leveraged buyouts typically carry a substantially higher interest and fee burden compared to senior loans, second lien loans, and mezzanine loans of the same transaction.