Wells Fargo Pitching Debt for Quikrete’s Summit Deal (1)

Wells Fargo & Co. has started sounding out investors for a potential $7 billion bond-and-loan deal to support Quikrete Holdings Inc.’s planned acquisition of building-materials rival Summit Materials Inc., according to people with knowledge of the matter.

The debt offering may include approximately $3.95 billion in high-yield bonds and $3 billion in leveraged loans and could be launched into syndication next month, said the people, who requested anonymity to discuss a private transaction.

The size of the debt financing and its timing may change, the people said.

A representative for Wells Fargo declined to comment, while Quikrete and ...