Deals
Carlyle's J&J Carveout Stinging Creditors as Earnings Plummet
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Lenders who funded Carlyle Group LP’s $4 billion buyout of Johnson & Johnson’s medical diagnostics division 18 months ago are feeling the pain from the company’s sinking earnings.
Prices on the obligations backing the debt-fueled acquisition of Ortho-Clinical Diagnostics Inc., which was Carlyle’s largest purchase of 2014, have plunged to new lows as an important measure of the company’s earnings slumps, according to people with knowledge of the matter.