KKR may delay the sale of loans to fund its $26bn buyout of First Data until at least next week after failing to agree on terms with its bankers, reports Bloomberg, citing people with knowledge of the talks. KKR and banks led by Credit Suisse couldn’t agree Wednesday on pricing or how much of the debt lenders will try to sell, said the people. The First Data sale is the biggest to be attempted since rising US mortgage defaults triggered the highest LBO borrowing costs in four years and is being watched by bankers and buyout firms as a gauge for how $320bn in debt committed for pending LBOs may fare.

This entry was posted by Gwen Robinson on Thursday, September 13th, 2007 at 5:43 and is filed under Capital markets, M&A, Private equity. Tagged with credit suisse, first data, kkr. Edit this entry.