Shedding the LBO Albatross, China Debt Plans: Credit Weekly
- From Twitter to Citrix, banks looking to shed LBO financings
- China creditors start to see restructuring plans take shape
A man walks past the China Evergrande Group Royal Peak residential development under construction in Beijing, China.
Source: Bloomberg
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Editor’s Note: Welcome to Credit Weekly, where Bloomberg’s global team of reporters will catch you up on the hottest stories of the past week while also offering you a peek into what to expect in credit markets for the days ahead.
With just three weeks left in 2022, leveraged finance bankers are scrambling to unload a $40 billion albatross: the risky buyout financings that they committed to when credit markets were booming but that their usual investors will no longer touch.