Warburg Pincus, the US private equity group, has given its banks less than two months to complete $700m (€598m) of loans and a bond deal to help finance its latest leveraged buy-out.

Credit Suisse First Boston (CSFB) is managing the debt package backing Warburg Pincus' $1.1bn buy-out of Transdigm, the US aerospace parts maker. The bank has the task of leading a loan syndication and managing a high-yield bond issue within a few weeks.