Jefferies-Led Bank Group Loses $15 Million Underwriting M2S Loan
- Loan priced at 93 cents on the dollar with four banks involved
- Jefferies absorbing about half the loss, said person familiar
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A bank group led by Jefferies Financial Group Inc. has lost about $15 million after being forced to sweeten terms on a leveraged loan for M2S Group Intermediate Holdings Inc., according a person with knowledge of the matter.
Jefferies is absorbing about half the loss, said the person, who requested anonymity to discuss confidential information.