Citigroup Shelves $1 Billion Loan Deal for Auto Parts Supplier Autokiniton

People familiar with the matter said Autokiniton US Holdings has shelved an amendment and extension of an approximately $1.05 billion leveraged loan. The person requested anonymity because the information is confidential. Amid current market volatility, investors are demanding more concessions from highly indebted companies seeking financing or debt refinancing transactions. Only four leveraged loan issuances were completed in the U.S. this week. Traders are assessing what a sweeping Democratic victory in the midterm elections could mean for AI infrastructure projects that rely on debt-fueled expansion. A spokesperson for KPS Capital declined to comment; Citigroup, which is leading the transaction, and Autokiniton did not immediately respond to inquiries.