Barclays, Citi to buy up to $280 mln of Shutterfly loans: Wall Street Journal

Investment banks are struggling to raise $2 billion of debt to back Apollo Global Management’s buyout of Shutterfly Inc, the Wall Street Journal reported. Barclays, Citigroup and other banks Apollo hired for the sale agreed to buy up to $280 million of the financing themselves failing to find enough outside investors, the story said.