Banks Said to Nudge Out Private Credit for AirTrunk Financing

Blackstone Inc.is tapping banks to provide the entire funding package for its proposed buyout of AirTrunk, sidelining a group of private credit funds that had been in the running to provide part of the financing, according to people familiar with the matter.

Banks including Citigroup Inc., DBS Group Holdings Ltd. and Deutsche Bank AG are in discussions to provide about A$5.5 billion ($3.6 billion) financing at the holding company level, the people said, asking not to be named as the discussions are private. The borrowing would comprise a term loan and revolving credit facility, the people added. ...