BX - Apollo Global offers to buy $4B of Citrix buyout debt - Bloomberg

Apollo Global Management (NYSE:APO), along with some other private credit funds, is reportedly interested in buying as much $4B of the debt that financed Citrix Systems' (CTXS) buyout. Talks with banks behind the buyout financing are preliminary and so far are discussing the secured portion of the $15B commitment, Bloomberg reported, citing a person familiar with the matter. Blackstone (BX) and Ares Management (ARES) were contacted by Apollo (APO) to gauge their interest, the person said. The repricing of risk assets after the Russia invasion of Ukraine has caused some banks to take losses on debt sales for pending acquisition last month. And the recent Federal Reserve rate hikes has increased the difficulty in banks selling junk-rated debt in syndications. After a record year of fundraising, though, private credit funds have no shortage of cash. Meanwhile, the group of banks that underwrote the Citrix (CTXS) deal decided to wait until

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Apollo Global offers to buy $4B of Citrix buyout debt - Bloomberg