Banks Kick Off $4 Billion Citrix Bond Sale as Loan Draws Demand
- Bond increased from $3.5 billion; may limit debt banks to hold
- Lenders already received enough demand for $4.05 billion loan
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Wall Street banks have kicked off the second part of a $15 billion debt package for the buyout of Citrix Systems Inc., as they look to offload risky loans they’ve been stuck with for months.
A group of lenders led by Credit Suisse Group AG will hold an investor call for a $4 billion secured bond offering at 10:30 a.m. New York time on Tuesday, according to a person with knowledge of the matter. It follows the launch of a similarly sized leveraged loan offering last week that has already received enough demand to be sold.