The Impact of SVB Collapse on Banks' Junk Debt Unloading Efforts.
Wall Street firms, including Bank of America, Barclays, and Morgan Stanley, are struggling to sell off $25 billion to $30 billion of "hung debt" tied to leveraged buyouts that banks agreed to finance before worsening credit conditions last year sapped investor appetite for the paper. The recent turmoil in the banking industry has made the already-difficult task of selling off tens of billions of risky buyout debt even harder for these firms.