Private equity firm TPG Capital and Goldman Sachs' principal finance arm are raising $23.2bn (€17.4bn) worth of debt financing to support their buyout of a US wireless-service provider, the first of two acquisitions TPG has made in the telecoms sector in as many weeks.

According to regulatory filing with the US' Securities and Exchange Commission, TPG and Goldman Sachs Capital Partners will raise $15.5bn of leveraged loans and $7.7bn of bonds to finance their $27.5bn buyout of Alltel, which was agreed late last month.