Banks Prep $3.5 Billion of Debt for Brookfield’s Lotto Purchase
- Multicurrency funding to consist of loans and high-yield bonds
- Debt offering could hit the market as soon as late January
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Barclays Plc and Deutsche Bank AG are lining up a roughly $3.5 billion debt sale that will help fund Brookfield Business Partners LP’s acquisition of Scientific Games Corp.’s global lottery services and technology business, according to people with knowledge of the matter.
The financing is expected to comprise of $2.5 billion in leveraged loans that will be denominated in dollars and euros, the people said. The remainder will be in junk bonds, they added.