CVC Sale of Spanish University Pits Private Credit Against Banks

CVC Capital Partners Plc’s potential sale of Spanish private university Universidad Alfonso X El Sabio has stirred up offers to underwrite as much as €1 billion of debt from both private credit firms and banks.

Both banks and direct lenders are in talks with private equity firms to back their bids, according to people familiar with the deal who asked not to be identified because the matter is private.

Potential buyers are preparing final offers for the university, they added, which could be valued more than €2 billion. UAX has reportedly attracted interest from Cinven, and a consortium ...