Citrix Debt deal price with big loss for banks

Investment banks include Bank of America Credit Suisse Corporation and Goldman Sachs Group is on track to lose more than $500 million in total to debt backing the largest U.S. leveraged buyout of the year after it was sold to investors at a heavily discounted price.

$4 billion bond backing $16.5 billion private deal for Citrix system was auctioned Tuesday at a 16% discount, accounting for a loss of about $500 million to the underwriting banks alone, according to people familiar with the matter and the pricing terms table viewed by The Wall Street Journal.

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