The stuttering recovery in European private equity deals received a boost today as it emerged the loans that are backing one of the largest European buyouts of the year have been syndicated.

Citigroup, BNP Paribas and Commerzbank have successfully sold more than €300m ($369m) of debt backing UK buyout firm Cinven's c.€800m acquisition of French medical company Sebia, according to a person close to the process.