Banks Line Up $3.1 Billion Debt for Lone Star’s Hillenbrand Buy

Bank of America Corp. and UBS Group AG are leading a roughly $3.1 billion debt financing backing Lone Star Funds’ take-private of equipment company Hillenbrand Inc., as the flow of cross-border debt deals starts to pick up.

The bank duo are leading the leveraged loan and high-yield bond offering, which is expected to come in both dollars and euros, according to people with knowledge of the matter. The package is set to be sold on to institutional investors early next year, they added, asking not to be identified as they’re not authorized to speak publicly