Banks holding £9bn of debt from the private equity acquisition of Alliance Boots are on the brink of selling about a third of the loans in what would be the biggest sale of a hung leveraged loan in Europe. Banks have received orders for slightly less than half the £5bn senior tranche of debt, at a price of 91% of face value, said people familiar with the situation. Some of the banks had helped partially finance some investor’s orders but the deal was by no means finalised, they added. Barclays and UniCredit have decided not to sell any of their share of the debt at these discounted prices, and JPMorgan is selling only part of its share the debt.

This entry was posted by Gwen Robinson on Wednesday, May 21st, 2008 at 5:42 and is filed under Capital markets. Tagged with alliance boots, barclays, jpmorgan, unicredit. Edit this entry.