After offloading financing commitments for the acquisition of Citrix Systems Inc. to investors last week, Wall Street banks expect to incur losses of about $600 million.
As the result of months of effort to try and limit the harm from underwriting commitments made early in the year prior to a significant repricing of risky assets.
A collection of more than 30 banks and other companies, including Bank of America, Credit Suisse, and Goldman Sachs, underwrote the deal.
It’s unclear how much of the $1.3 billion in losses that the six major US banks reported on similar types of loans in the second quarter already included Citrix.
