Citrix Debt Deal Prices With Large Losses for Banks

Funding banks together with Financial institution of America Credit score Suisse Group and Goldman Sachs Group are on monitor to collectively lose greater than $500 million on debt backing the biggest U.S. leveraged buyout of the 12 months after it was offered to buyers at a steep low cost.

The $4 billion in bonds backing the $16.5 billion take-private deal for Citrix Techniques have been auctioned off Tuesday at a 16% low cost, netting round $500 million in losses alone for underwriting banks, in keeping with folks acquainted with the matter and pricing time period sheets seen by The Wall Road Journal.