Banks Prepare €1.5 Billion Debt for Saint-Gobain Auto-Glass Sale

Banks are pitching up to €1.5 billion ($1.6 billion) in debt financing to back a potential buyout of Cie. de Saint-Gobain’s auto glass unit.

Lenders are considering a debt offering that could tap into investor appetite in both the leveraged loan and high-yield bond markets, according to people familiar with the matter.

Remaining suitors for the asset include buyout firms Apollo Global Management and KPS Capital Partners, said the people, asking not to be identified because the process is confidential. A next round of bids is due in mid-March, they said.

The French building-materials producer has been working with ...