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Five banks line up €2.1bn debt for Rexel deal

JP Morgan, Morgan Stanley, HSBC, Royal Bank of Scotland and Merrill Lynch will supply €2.1bn of debt to a consortium of three private equity firms now in exclusive talks to acquire Rexel, the electrical equipment distributor for €3.7bn ($4.9bn).

The deal would rank as Europe's largest leveraged buyout this year.

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