Aug. 26 (Bloomberg) -- Bank of America Merrill Lynch, Morgan Stanley, IKB Deutsche Industriebank AG and UBS AG failed to sell 500 million euros ($721 million) in loans granted to Blackstone Group LP for the leveraged buyout of German clothing retailer Jack Wolfskin to investors, Reuters reported yesterday, citing people familiar with the matter.
The banks are now evaluating to try again in half a year when markets may have calmed down, or issue high-yield bonds, Reuters said. Should the transaction fail, it would be the first time the placement of an LBO loan in Europe falters, Reuters said.
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