U.S. investment management giant Pimco has purchased over €1B ($1B) worth of loans , which were used by Apollo, another U.S. firm, to underwrite its purchase of French payments company Worldline . The purchase has taken place at a large discount. More: - Pimco's decision to purchase the debt comes as banks around the world face tens of billions of dollars in losses due to bridge loans that were signed before the recent market slump. - In leveraged buyouts, banks will underwrite debt prior to selling it to other investors. This generates risks for the underwriters, as they can experience...