Private equity firms Advent International and The Carlyle Group have called in three relationship banks to arrange the debt financing backing its €1.2bn ($1.6bn) buyout last week of the specialist chemical unit of German conglomerate Bayer.

The deal for HC Starck, which was Advent's second in a week after it agreed to sell sports marketing firm Sportfive to trade buyer Lagardère for €865m, is being financed with a €1bn leveraged loan provided by Commerzbank, Dresdner Kleinwort and Japanese house Mizuho.