Banks Struggle to Find Demand for Apollo’s Brightspeed LBO Debt

A group of banks led by Bank of America Corp. and Barclays Plc are struggling to attract investors for a roughly $3.9 billion debt financing package to help fund a buyout by Apollo Global Management Inc., potentially forcing them to fork over the cash themselves.

In the latest blow for Wall Street lenders since the Citrix Systems Inc. debt debacle, neither the $2 billion leveraged loan nor the roughly $1.9 billion junk bond on this latest transaction are close to deal size as of Wednesday, according to people with knowledge of the matter, who asked not to be named ...