Banks Prepare $7.15B Debt for CD&R Sealed Air Buyout

Banks are preparing a roughly $7.15 billion debt financing package to help fund Clayton Dubilier & Rice’s planned acquisition of Sealed Air. The proposed offering is expected to include a mix of leveraged loans and high-yield bonds, with discussions underway on timing and structure.

A filing indicates the package could feature a $4.3 billion leveraged loan plus a euro-denominated loan equivalent to about $600 million. The remainder is expected to include secured bonds of about $1.15 billion in US dollars and a euro tranche equivalent to roughly $600 million, along with about $500 million of unsecured notes.