Risky debt sales are getting tougher. The latest evidence of that is the loan offering tied to chemical maker Arclin Inc.’s acquisition of DuPont de Nemours Inc.’s Aramids business.
A $1.1 billion leveraged loan to help fund the buyout sold Wednesday at just 92 cents on the dollar, according to a person with knowledge of the matter, one of the steepest discounts for an acquisition financing in months.
Goldman Sachs Group Inc., which led the deal, made several changes over the past few weeks to try to attract buyers wary about the specialty chemicals industry’s demand swings. ...
