Financial Times FT.com

Banks set to sell Alliance Boots debt

By Martin Arnold, Anousha Sakoui and Peter Thal Larsen in London

Published: May 13 2008 23:48 | Last updated: May 13 2008 23:48

Investment banks are poised to agree a plan to sell much of the £9bn ($17bn) debt in Alliance Boots, the private equity-owned pharmacy chain, providing a crucial test of improving conditions in loan markets.

A group of eight banks has been holding the Alliance Boots debt since underwriting last summer’s £11bn buy-out by KKR in Europe’s biggest ever private equity deal.

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