Goldman Backs Almaviva’s Buyout of Iteris With €350 Million Debt

Goldman Sachs Group Inc. has lined up around €350 million ($389 million) of debt financing to back Italian IT group Almaviva SpA’s purchase of US tech firm Iteris Inc., according to people familiar with the matter.

The debt is in the form of a bridge loan that will ultimately be taken out by high-yield bonds, the people said, declining to be identified because the information is private. Almaviva agreed to acquire Iteris last month in a transaction which valued the company at around $335 million.

Traditional lenders are very much looking to fund leveraged transactions, with a number ...