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Wall Street Banks Chip Away at $50 Billion of Buyout Loans Sitting on Books

  • Credit Suisse’s CDK Global loan sale is a test of demand
  • Buyout lenders are trying to minimize their losses on loans

Wall Street banks, sitting on an estimated $50 billion of buyout loans they need to sell to investors, are testing the waters to see if they can start offloading the debt.  

Credit Suisse Group AG is looking to sell a $3.35 billion loan to finance the buyout of auto dealership software company CDK Global Inc. It’s one of the biggest sales of the debt this year, and it comes after loan prices have edged higher in recent days.