Apollo’s Sambur Sees Banks on Sidelines for LBOs for Months

Apollo Global Management Inc.’s co-head of private equity says even the successful financing of a big debt package for Citrix Systems Inc. won’t be enough to convince banks to commit to funding buyouts again -- at least not soon.

Banks are unlikely to fund big deals until at least the fourth quarter as economic uncertainty hangs over financing, David Sambur said in an interview with Bloomberg TV’s Sonali Basak at the SuperReturn North America conference in New York.

“I don’t think the spigot reopens,” Sambur said.

Wall Street banks are now selling bonds and loans as part of a ...