Bargain hunting

News that Citigroup is planning to sell a $12bn portfolio of leveraged loans to a group of buyout firms may signal the bottom of the loan market. For some time, leveraged loans have been trading at prices that should have been attractive to unleveraged or lightly leveraged buyers. So far, they have refused to bite. A successful sale of Citi’s loans would suggest the mood is changing. Of course, much depends on the terms of any deal, which are still under discussion. Reports suggest Citi is propo...