Large Banks Postpone Debt Sale as Investor Appetite for Riskier Loans Wanes
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Symantec’s headquarters in Mountain View, Calif. CreditSymantec, via Reuters
Although the biggest leveraged buyout of the year is still set to be completed on time, some of the banks involved in the financing have postponed plans to sell several billion dollars’ worth of debt meant to support the transaction, people briefed on the matter said on Tuesday.
The move by the lenders, led by Bank of America Merrill Lynch and Morgan Stanley, highlighted the sense of caution that has descended on the market for junk bonds and riskier high-yield loans. It also underscored the growing reluctance of investors to place money in volatile markets in recent months, in both the bond and equity markets…
Large Banks Postpone Debt Sale as Investor Appetite for Riskier Loans Wanes
