Thursday, May 29, 2008

Guy Hands tries to find people wanting debt

It's not the best of times to be trying to offload debt in a directionless company in a threatened industry. Indeed, Citigroup are finding it so difficult to come up with a chump - sorry, partner - to share its exposure to Terra Firma's EMI debt that Guy Hands is scrabbling around trying to find someone on Citigroup's behalf.

That would be people who weren't bothered about taking on debt to buy EMI before Terra Firma had had a year running it and who can't be persuaded by Citigroup that it's a good bet, then.