Carlyle Seeks Roughly $2.5 Billion Debt for Medtronic Units Bid
- Firm asks banks, private credit lenders to prep debt packages
- Potential deal underscores recovery in leveraged buyout arena
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Carlyle Group Inc. is asking both Wall Street banks and private credit lenders to arrange debt packages of at least $2.5 billion to support its potential acquisition of stakes in some of medical-device maker Medtronic Plc’s business units, according to people with knowledge of the matter.
The discussions are early, which means details of any debt packages could change, the people said, asking not to be named discussing a private transaction. Reuters first reported that Carlyle is in talks to acquire majority stakes in two of Medtronic’s units in a deal valued at more than $7 billion.