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Jefferies looks to be facing another tough moment in the debt markets, as its efforts to offload a loan backing Advent International’s buyout of pharmaceutical advertising company PatientPoint run up against skeptical lenders, a regulatory crackdown, and a pullback in credit markets — all at once.

PatientPoint, which bills itself as a tech-enabled patient engagement company, is currently owned by an investor group led by private equity firms L Catterton and Littlejohn & Co. It places screens in doctor’s offices which are used to advertise drugs.