Banks supporting $3bn debt financing for Kantar

Kantar’s current owner, WPP, is now in exclusive negotiations with private equity firm, Bain Capital, for what is said to be a $4bn deal.

According to a report by Reuters, the banks underwriting the deal include Bank of America Merrill Lynch, Barclays, Credit Suisse, Deutsche Bank, Goldman Sachs, Mizuho, Morgan Stanley, Natwest, Nomura and RBC.

It said sources suggested the buyout would be backed with $3bn of senior leveraged loans and subordinated high yield bonds in dollars and euros. High yield bonds are preferred to second lien loans as investors like the call protection offered on them.