Financial Times FT.com

Record for Alliance Boots' sale of debt

By Anousha Sakoui and Martin Arnold

Published: May 21 2008 03:00 | Last updated: May 21 2008 03:00

Banks holding £9bn of debt from the private equity acquisition of Alliance Boots are on the brink of selling about a third of the loans in what would be the biggest sale of a hung leveraged loan in Europe.

Banks have received orders for slightly less than half of the £5bn senior tranche of debt, at a price of 91 per cent of face value, according to several people familiar with the situation.

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