Can Citigroup sell $12 billion in leveraged loans?

Citigroup's strategy for selling of $12 billion in leveraged loans--crucial to its efforts to clean up its balance sheet--features an interesting gambit. Rather than sell off the loans in discrete packages, it is letting potential private equity buyers such as the Blackstone Group, TPG and Apollo do a bit of à la carte shopping. The Financial Times reports the firms are allowed to pick and choose from a menu of all deals. That suggests that the buyers will gravitate toward the deals they deem the soundest, leaving the rest to Citigroup. Citigroup is not the only bank marketing such debt. Deutsche Bank is as well. Perhaps the competition is forcing sellers to get creative.  

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