BofA-Led Banks Hold Back on $15 Billion Citrix Buyout Debt Sale

The banks backing the $15 billion debt sale for the buyout of Citrix Systems Inc. have decided to wait to launch the leveraged loan and high-yield bond offerings until after the US Labor Day holiday due to volatile markets as recession fears curb appetite for riskier assets.

The lenders, led by Bank of America Corp., hope September will provide a more positive backdrop to sell the debt to investors, according to people with knowledge of the matter, who asked not to be identified discussing a private transaction.