A rout in the once-hot market for risky corporate loans has some of Wall Street’s largest banks stuck with at least $1.6 billion of unwanted leveraged buyout debt.
Banks including Barclays Plc, Goldman Sachs Group Inc. and Bank of America Corp. -- among the top providers of loans for LBOs -- have struggled in recent weeks to sell loans they’ve agreed to make for private equity deals, as concerns about the global economic outlook spurred investors to flee risky assets.
