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The T Rowe Price Equity Income Fund (Trades, Portfolio), part of Baltimore-based T. Rowe Price Group Inc. (TROW), disclosed this week that is top sells during the third quarter included the closure of its positions in Citrix Systems Inc. ( CTXS , Financial) and Occidental Petroleum Corp. ( OXY , Financial) and reductions to its holdings of Xcel Energy Inc. ( XEL , Financial), Loews Corp. ( L , Financial) and United Parcel Service Inc. ( UPS , Financial).
Wall Street banks completed the sale of $8.55 billion in loans and bonds backing the leveraged buyout of business software company Citrix Systems Inc by accepting a $700 million loss, a person familiar with the matter said on Wednesday.
The sale of Citrix's debt has been closely watched by private-equity investors, who rely on leveraged loans and have found they're more expensive and harder to obtain.
Banks seeking to sell some of the debt backing the $16.5 billion leveraged buyout of business software company Citrix Systems Inc to investors have received more demand than they can fill, raising the prospect they may suffer a smaller loss than expected, people familiar with the matter said on Friday.
Time to put money to work. Merger arb spreads are wide.