Banks begin $4.7bn loan sale for Sealed Air buyout – report

Banks have begun the sale of nearly $4.7bn in leveraged loans to help fund Clayton Dubilier & Rice’s (CD&R) planned purchase of packaging manufacturer Sealed Air, reported Bloomberg. According to sources, JPMorgan Chase is leading the syndication of $4.1bn in dollar loans while BNP Paribas is overseeing the sale of a $600m euro-denominated loan. Furthermore, 20 additional banks are also participating in the financing arrangement. Preliminary discussions put pricing for the dollar and euro loans at 3.5- ...