Citrix banks offer steep OID as market outlook darkens

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Citrix banks offer steep OID as market outlook darkens

Will Caiger-Smith's avatar
Bill Weisbrod's avatar
David Bell's avatar
  1. Will Caiger-Smith
  2. +Bill Weisbrod
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3 min read

The banks that underwrote Citrix Systems buyout debt are facing some potentially tough choices over the next few days, as they try to offload as much of the risk as possible while minimizing their losses. Their predicament is getting tougher as market sentiment sours.

The Bank of America-led syndicate finally launched the first part of the syndication today: a roughly $4.5bn term loan B, split between a $4.05bn US dollar tranche and a $500m-equivalent tranche denominated in euros.

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