07:50 AM EDT, 09/24/2024 (MT Newswires) -- Banks and private credit lenders are lining up more than 10 billion euros ($11.1 billion) of debt to back a buyout of Sanofi's ( SNY ) consumer health unit, Bloomberg reported, citing people familiar with the matter.

A group of banks signed funding commitments last weekend for 7.5 billion euros to 7.8 billion euros of senior debt to back acquisition bids, as well as a 1.2 billion euro revolving credit facility. Meanwhile, private credit lenders are lining up around 1.5 billion euros to 2 billion euros of junior debt to finance the buyout, the people told Bloomberg.

Clayton Dubilier & Rice, a New York-based buyout firm, is competing with French rival PAI Partners for the Sanofi ( SNY ) division, with bids due this month, according to the report.

Sanofi ( SNY ) did not immediately reply to a request for comment from MT Newswires.

(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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