US LevFin Wrap — When is a lockup not a lockup, Wheel Pros skids out, Michaels crafts a rebound
- William Hoffman
- +Will Caiger-Smith
With the window for new issuance slightly ajar in recent weeks, it’s no surprise that bankers have sprung into action to close all manner of deals. Still, some of them are slightly more surprising than others — the recent selldowns of Citrix’s term loan A debt, for example.
There’s been a steady drip-feed of news around this over the past couple of weeks, identifying Barclays, Morgan Stanley and Citi (among others) as sellers and the likes of Apollo, Franklin Templeton and Diameter Capital Partners as buyers.