Barclays PLC CEO Jes Staley Says Garbage Corporate Loans Are Eye-Openers

Barclays PLC CEO Jes Staley Says Garbage Corporate Loans Could Doom Future Corporate Finance

Barclays PLC
Barclays Plc CEO Jes Staley says Barclays is among lenders sitting on $2 billion of risky corporate loans they can’t sell. He appeared on Bloomberg last week warning of the dangers of poorly assembled and poorly underwritten deals.
Staley told Bloomberg TV that buyers of leveraged loans are shunning transactions that aren’t structured properly. Banks globally have been left holding parts of loans that funded at least seven private-equity deals. Barclays was a lead underwriter on four of them.
Banks typically arrange leveraged loans to fund acquisitions for private-equity companies. They usually arrange to sell the debt to third party investors before deals close.

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