Banks Ready €2.4 Billion Debt Package for Stonepeak’s IFCO Deal

Bank of America Corp. counts among a list of banks expected to arrange €2.4 billion ($2.8 billion) in debt financing to support Stonepeak Partners’ acquisition of a 50% stake in IFCO Group, according to people familiar with the matter.

Morgan Stanley and Citigroup Inc. are also expected to participate in the deal, said the people, who asked not to be identified because they’re not authorized to speak publicly. The arrangement is expected to refinance the German reusable packaging firm’s existing €1.6 billion of leveraged loans and offer additional funding of €800 million, said the people.