Silver Lake Lines Up $2 Billion Debt Financing for Altera Deal

A group of banks is providing Silver Lake Management $2 billion in debt for its acquisition of a 51% stake in programmable chips unit Altera from Intel Corp., according to people with knowledge of the matter.

Barclays Plc, Citigroup Inc., Deutsche Bank AG, Royal Bank of Canada, Bank of Montreal and KKR Capital Markets will syndicate the financing in the debt capital markets, said the people, who asked not to be identified discussing private information.

Representatives for Silver Lake, Barclays, Citigroup, Deutsche Bank and KKR declined to comment. Representatives for Intel, BMO and RBC didn’t ...