Jefferies to Book Loss on Toms Shoes Debt
The Wall Street Journal reported, citing people familiar with the matter, that global investment bank Jefferies Group could lose up to $15 million on debt backing Bain Capital’s Toms Shoes investment while it struggles to sell the loans.
The Journal said that the debt was initially offered at 99 cents on the dollar; however it will now be issued between 90 cents and 92 cents on the dollar, causing the loss for Jefferies.
The Journal explained that there has been a “bumpy period” for the leveraged loan market, which has been inhibited by higher volatility.
To read the entire Journal article, click here.