Banks Plan $4.5 Billion of Loans in Sealed Air LBO Debt Package

Clayton Dubilier & Rice is expected to sell about $4.5 billion of leveraged loans to help fund its acquisition of packaging firm Sealed Air as part of one of the biggest buyout financings underwritten by banks in months.

The loans are expected to be split across US dollars and euros, and are a portion of a larger $7.9 billion debt package, according to people with knowledge of the matter. The remainder of the buyout will be financed with secured and unsecured bonds, which will replace bridge loans, said the people, asking not to be identified because they’re not authorized to speak publicly.