Global banks slice and dice $80 bn in M&A debt that no one wants

Global banks stuck with $80 billion in unappealing M&A financing debt are trying new tactics to find buyers. 

In the case of the private-equity buyout of Citrix Systems, they’re cutting the debt into smaller pieces to attract a wider pool of investors. Euro debt is being added to some financing packages, as in the case of ETC Group’s takeover. 

The banks are adapting to rising rates and falling asset values, where investors’ risk appetite has seemingly vanished and money managers are bruised from bad bets elsewhere. Many of these M&A financing packages were put together months ago, when stocks were near all-time