BofA-Led Group Forced to Fund Bain’s $615 Million Buyout Loan

A group of banks led by Bank of America Corp. has been forced to self-fund a $615 million loan supporting Bain Capital’s buyout of VXI Global Solutions after failing to place the debt with institutional investors, according to people with knowledge of the matter.

The move allows Bain, which agreed to buy the outsourcing company from Carlyle Group Inc. earlier this year, to close the acquisition while the banks work out a solution to offload the debt, said the people, who asked not to be identified when discussing a private transaction.

Representatives for Bank of America and Bain didn’t respond ...