Jun
14

Goldman Splits From Bank Group Selling Hung Buyout Loan

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Goldman Sachs Group Inc. is causing headaches for fellow Wall Street banks that are trying to offload $3 billion of risky debt that funded last year’s biggest leveraged buyout, according to people with knowledge of the matter.

Goldman Sachs sold about $100 million of the loans last week at 85 cents on the dollar, 5 cents lower than where a group of lenders led by Bank of America Corp. were marketing the debt at the same time, said the people, who asked not to be identified because the transaction wasn’t public. The bank group is now offering the larger chunk of the debt at a similar discount after some investors pushed for matching concessions, the people said…

Goldman Splits From Bank Group Selling Hung Buyout Loan

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