11:28 AM EDT, 07/12/2024 (MT Newswires) -- Goldman Sachs ( GS ) and Morgan Stanley ( MS ) are among the banks amassing over 6 billion euros ($6.5 billion) of debt financing for would-be buyers of Sanofi's ( SNY ) consumer health division, Bloomberg News reported Friday, citing unnamed people familiar with the matter.

First-round bids for Sanofi's ( SNY ) $20 billion business are due next week, sources told the news outlet.

Goldman Sachs ( GS ) and Morgan Stanley ( MS ), as well as Bank of America and BNP Paribas are advising Sanofi ( SNY ) regarding the sale, according to the report.

As previously reported, any financing for a potential deal is expected to include a payment-in-kind loan expected to be worth at least 1.5 billion euros, the report said.

Sanofi ( SNY ) declined to comment on the financing but a spokesperson said the company is keeping its options open to maximize the value of the consumer unit. The banks also declined to comment, Bloomberg reported.

(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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