Banks Get Whacked by LBO Debt; TMT Picks and Pans

Wall Street banks lost billions of dollars on leveraged buyout financing that they committed to before rates surged. A junk debt market reopening allows them to sell some of that down, but there are lingering concerns about the ability of very risky companies to access funds, according to Paula Seligson, a reporter at Bloomberg News in New York. In this episode of the Credit Edge Podcast, Bloomberg News senior editor James Crombie also asks London-based Bloomberg Intelligence analyst Aidan Cheslin about opportunities and risks in the telecom, media and technology sector. Hybrid corporate bonds battered by the banking crisis may now offer value after the companies selling them emerged mostly unscathed. See omnystudio.com/listener for privacy information.