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Credit contagion The market for junk bonds and leveraged loans locks up, and pressure grows on banks and private equity firms to rework deals. One of the first takeovers to be renegotiated: the sale of Home Depot's supply unit, whose price gets slashed 17 percent to $8.5 billion. Despite the turbulence, Blackstone raises a record $21.7 billion fund, exceeding a $20 billion fund raised by Goldman Sachs' private equity arm.
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