Bloomberg: Citigroup, Goldman Offload $1.8 Billion of BioMed-Buyout Debt
According to Bloomberg:
Citigroup Inc. and Goldman Sachs Group Inc. pulled off a sale of about $1.8 billion in bonds linked to Blackstone Group LP’s acquisition of BioMed Realty Trust Inc., clearing their books of loans that have been parked there for months.
Even with that success, gyrations in the bond market signal that banks will be reluctant to fund future large buyouts, according to Jim Sullivan, a managing director at Green Street Advisors LLC, a real estate research company.
“Some leveraged buyers who use CMBS certainly have a headwind,” Sullivan said.
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