Financial Times FT.com

Harrah's debt syndicate setback leaves loan market in 'disarray'

By Stacy-Marie Ishmael and Henny Sender in New York

Published: February 4 2008 02:00 | Last updated: February 4 2008 02:00

The leveraged loan market begins the week in "disarray" following the collapse of efforts to syndicate the debt used to finance the $17.1bn buy-out of Harrah's Entertainment, bankers say.

The group of banks backing buyers Apollo Management and Texas Pacific Group are having trouble selling on $14bn in loans and bonds to third parties.

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