BofA to Lead $1.83 Billion Leveraged Loan for Carrier Unit Deal

Bank of America Corp. is leading a $1.83 billion leveraged loan for Lone Star Funds’ purchase of Carrier Global Corp.’s commercial and residential fire unit, according to people familiar with the matter who asked not to be identified as the information is private.

The proposed buyout, announced two weeks ago and expected to close by year-end, is worth $3 billion on an enterprise value basis.

A representative for Bank of America declined to comment, while Carrier Global and Lone Star Funds didn’t respond to requests for comment.

Acquisition financings involving lower-rated companies are expected to increase the next ...