ALIZF - Allianz's Pimco reportedly bought $1B of loans backing Apollo's Worldline buyout

• Pimco was the sole buyer of more than €1B (US$1.02B) of loans from banks that underwrote Apollo Global Management's ( NYSE: APO ) acquisition of Worldline ( OTCPK:WWLNF ) (WRLDY), a French payments company, the Financial Times reported , citing people familiar with the matter.
• A group of banks led by Barclays ( NYSE: BCS ) and Bank of America ( NYSE: BAC ) took losses on deal, as  Allianz SE-owned Pimco ( OTCPK:ALIZF ) bought the loans at a deep discount, the FT said.
• Investment banks around the world are facing losses on bridge loans backing leveraged buyouts that were signed before flagging markets made it more challenging to sell the debt to specialist funds.
• Worldline ( OTCPK:WWLNF ) received a binding offer from Apollo Global ( APO ) in February for its terminals, solutions & service business for €2.3B total consideration.
• Market turmoil has been making it harder for alternative asset management firms to exit their investments. Last week, Apollo Global ( APO )-backed Fresh Market Holdings withdrew its IPO filing .

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