Skip to content

Wall Street Banks Rush to Sell Leveraged Buyout Debt as Deals Close

  • Bankers see a window to market Citrix, Tenneco debt financings
  • Clayton Dubilier jumps in to keep Cornerstone buyout on track
Views Of Wall Street As U.S. Stocks Slip

Photographer: John Taggart/Bloomberg

Banks sitting on about $80 billion 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 $15 billion 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 $5.4 billion debt package to help fund Apollo Global Management Inc.’s buyout of Tenneco Inc.