Bankers Prep €9 Billion Debt in Case of Unilever Ice Cream Sale

Bankers are working on raising debt financing of around €9 billion ($9.6 billion) for Unilever Plc’s ice cream business, in case it opts for a sale to private equity firms instead of a public listing.

Unilever kicked off initial discussions with buyout investors about a possible £15 billion ($19 billion) sale of the ice-cream business earlier this year, but has more recently said a spin-off is the most probable route. While an IPO is on track for the fourth quarter of next year, some private equity suitors are still holding out hope that the company will revisit a potential sale, ...