Barclays, JPMorgan Pull Deals as Angst Freezes Junk-Debt Market
- Barclays pulls M&A leveraged loan on bank-induced softness
- Leveraged loan issuance had already been lowest in years
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Global banks are growing wary of risky credits as turmoil envelops the industry, crushing the market for new leveraged finance deals just as it was beginning to regain its footing.
Bank underwriters across the US and Europe are pulling sales and pausing future ones amid tepid demand. Barclays Plc recently shelved a pair of loans for Ineos Enterprises and Russell Investments, while JPMorgan Chase & Co. yanked a deal for Agiliti Health.