Apollo, Franklin Among Buyers of $750 Million Citrix Debt (1)

Apollo Global Management Inc. and Franklin Templeton are among investors that bought $750 million of debt backing the buyout of Citrix Systems Inc., helping Wall Street banks chip away at billions of dollars in risky loans clogging their balance sheets.

Some of the more than 30 lenders that helped fund the LBO of the software company sold the term loans, reducing the $6.5 billion of debt they’ve been left holding for about two months, according to people with knowledge of the matter. Diameter Capital Partners, which Apollo owns a stake in, also bought a portion of the $750 million debt, ...