Banks Vie for Advent’s Planned £2 Billion Reckitt Unit Debt Deal

Bankers are vying to play a part in the debt financing backing Advent International’s potential acquisition of a suite of Reckitt Benckiser Group Plc’s homecare brands — a rare leveraged buyout amid a subdued M&A environment.

Around 10 to 15 banks are looking to land a spot on the £2 billion ($2.75 billion) or so financing transaction, according to people familiar with the matter, eager to underwrite what would be one of the few deals to come to market this year. The sell down of the debt is expected to come after the summer if the deal goes ahead, one of the people said.