ThyssenKrupp Elevator $3.4 Billion Debt Sale Launches for Buyout

A group of six banks have launched the first part of the highly-anticipated jumbo debt sale backing the acquisition of ThyssenKrupp AG’s elevator unit, Europe’s largest leveraged buyout in a decade.

The private equity firms that agreed to buy the division are seeking loans worth 3.05 billion euros ($3.4 billion) denominated in euros and U.S. dollars to part-finance the 17.2 billion euro buyout.

Lead underwriters for the transaction are Barclays Plc, Credit Suisse Group AG, Deutsche Bank AG, Goldman Sachs Group Inc., Royal Bank of Canada, and UBS Group AG. The issue comes after bankers pre-marketed the deal to ...