Citigroup is close to selling about $12 billion of leveraged loans and bonds to a group of private equity firms, the Wall Street Journal said in its online edition on Tuesday, citing people familiar with the matter.
Apollo, Blackstone and TPG are the buyers, explains Dylan Ratigan. TPG was also the lead buyer in the Washington Mutual deal.
I like that sound of that, says Karen Finerman. The move suggests to me that there's capital in the market that's ready to go to work.
It's very bullish for financials, says Jeff Macke.
> Citi Close to Sale of $12 Billion in Loans, Bonds: WSJ
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Trader disclosure: On Apr .8, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Macke Owns (YHOO), (MSFT), (INTC); Najarian Owns (AAPL), (MSFT), (YHOO), (XLF), (CSCO), (BIIB), (CHK), (BKC), (AMR), (DAL); Najarian Owns (AA) Calls, (BA) Calls, (BSC) Calls, (COP) Calls; Najarian Owns (LEH) Puts, (MER) Puts, (OIH) Puts; Finerman Owns (GS); Finerman's Firm And Finerman Own (FLS); Finerman's Firm Owns (MSFT), (PZN), (SUN), (TSO), (VLO), (WMT), (YHOO), (KALU), (SBUX); Finerman's Firm Is Short (IYR), (IJR), (MDY), (SPY), (IWM); Finerman's Firm Owns (FNM) Calls; Finerman Owns (AMV) Warrants