Gazprom Postpones Sale of Bonds, Fitch Withdraws Credit Ratings on Debt

(Bloomberg) -- OAO Gazprom, Russia's natural-gas
monopoly, postponed a planned sale of bonds prompting Fitch
Ratings to withdraw assigned grades for the debt.

More than 50 companies from U.S. carmaker Chrysler to
Kohlberg Kravis Roberts & Co.'s Alliance Boots Plc postponed or
reworked debt sales since mid-June as investors shun riskier
assets amid concern that U.S. subprime mortgage-related losses
will spill into other parts of the debt markets.


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First Data says buyout is on track

(Reuters) - The buyout is on track to close in the third quarter, Chairman and Chief Executive Ric Duques said on a conference call.




First Data agreed in April to sell itself to Kohlberg Kravis Roberts & Co. for $34 a share, but difficult conditions in the debt markets have made investors increasingly skeptical about whether the deal will close on time at that price.


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KKR's Banks Postpone Alliance Boots LBO Loans Until Next Week, Banker Says

(Bloomberg) -- Kohlberg Kravis Roberts & Co.'s
banks postponed a deadline to finance the buyout of Alliance
Boots Plc after failing to raise enough demand for the 9 billion
pounds ($18.5 billion) of loans, said a banker involved.

KKR and lenders led by Deutsche Bank AG started offering
the debt to investors three weeks ago and had asked them to
commit no later than today. The underwriting banks are now
giving potential investors until next week to join the loan with
the extra time designed to boost participation, said the banker
on the deal, who declined to be identified because the
discussions are private.


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KKR Accepts Borrowing Limits in Record $22 Billion Alliance Boots Buyout

(Bloomberg) -- Kohlberg Kravis Roberts & Co. will
accept borrowing limits imposed by lenders funding its 11.1
billion-pound ($22 billion) purchase of Alliance Boots Plc, as
investors shun risky assets, bankers arranging the deal said.

KKR is meeting with investors today to raise 9.02 billion
pounds in loans for Nottingham-based Boots, the biggest U.K.
drugstore chain. The loans will include limits on the amount of
debt the company can have relative to its cashflow, through so-
called maintenance covenants, said the bankers, who declined to
be named because the terms aren't public.


Read more at Bloomberg Bonds News