Wall Street banks rush to sell leveraged buyout debt as deals close ...Qatar

Banks sitting on about $80bn in leveraged buyout financing are pushing to get the debt off their books before market conditions deteriorate. Bank of America Corp. has begun gauging interest in debt for the $15bn buyout of Citrix Systems Inc, one of the largest LBO financings of the past decade. And BofA and Citigroup Inc are leading a syndicate testing investor appetite for a $5.4bn debt package to help fund Apollo Global Management Inc’s buyout of Tenneco Inc. Leveraged debt markets have been losers this year, and more pain is likely after Wednesday’s inflation report all but assured a big rate increase coming from the Federal Reserve, but bankers see a window to get deals done. Junk bond

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Last updated : 14 July 2022 clock 09:44 PM

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Wall Street banks rush to sell leveraged buyout debt as deals close ...Qatar

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