Credit Suisse Looking To Jump Loan Gun Again?

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It looks like Credit Suisse is getting ready to front-run the financing syndicate for the pending $20 billion buyout of Clear Channel Communications. Reuters reporters Jonathan “Keen Eye” Keehner and Brit beauty Megan Davies are reporting that a source tells them the Swiss bank has called potential investors regarding a chunk of the loans and asked what price they would be interested in paying.
Lenders typically attempt to make a coordinated effort to bring loans to market but Credit Suisse has already shown that it is willing to break with this practice. It previously sold off its commitments to the acquisition funding of Harrah's Entertainment Inc.
DealBreaker has been told by sources that Credit Suisse is eager to move its backlog of loan commitments so that it can participate in the financing of new deals at a time when the balance sheets of competitors may still be weighted down by unsold leveraged loans.
CS looks to sell Clear Channel loans - source [Reuters]

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