05:32 PM EDT, 03/20/2024 (MT Newswires) -- Blackstone (BX) provided more than $1 billion funding to private equity firm Sentinel Capital Partner for the acquisition of Carrier Global's ( CARR ) industrial fire business, Bloomberg News reported Wednesday, citing people familiar with the matter.

More than $700 million of the funding is a direct term loan, sources told the news outlet. The financing also includes a $150 million revolving credit facility and a $150 million delayed-draw term loan, they reportedly said.

A spokesperson for Blackstone declined to comment, while representatives for Sentinel and Carrier, didn't reply to Bloomberg.

None of the companies immediately responded to MT Newswires' requests for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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