Private Credit Seeks to Nab Urbaser Buyout Loan From Banks

Private credit funds are in talks with Blackstone Inc. and EQT AB to finance their potential joint acquisition of Spanish waste management services business Urbaser, people with knowledge of the matter said.

The lenders are discussing providing about €2.3 billion ($2.6 billion) in a unitranche loan, as well as potentially undrawn lines of credit, the people said, who declined to speak publicly as the matter is private.

Spokespeople for Blackstone and EQT declined to comment.

Citigroup Inc. and Banco Santander SA, which acted as advisers on the acquisition, arranged back-up financing of up to €4 billion, split between funded and ...