Afaik the bonds are issued by the PE firms executing the deal, and it's taken many months to close. The debt has sat on bank books for a significant portion of time, so the yields are reflective of the price needed to unload them in the current market vs a market that was more conducive to the offering when the deal was initially agreed upon
PE firms don’t issue debt for leveraged buyouts. The debt is issued by the target company, ie. Citrix. Citrix is responsible for servicing the debt, not the PE firm.
Isn't this what ultimately took Toys R' Us down? The company actually had huge revenues, but after paying all it debtors could no longer actually make money.
