Monday, July 23, 2007
more resistance from investors for leveraged loan
--$3.1 bil loan of Allison Transmission, buyout by Carlyle group, was postponed
--the snag reflected the difficult conditions in the market for risky corporate loans
--The Allison debt deal wasn't the only one sidetracked yesterday.
--Expedia Inc., the online travel agency, drastically scaled back share buyback plans because it couldn't borrow the funds it needed for the buyback at acceptable terms.
--The buyout itself still is on track to be copleted in Q3. Underwriters will be left holding the bag than can be sold when market condition improves.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment