(Bloomberg) -- Clayton Dubilier & Rice and Stone Point Capital have lined up more than $9 billion of debt from banks to help finance their buyout of Truist Financial Corp.’s insurance brokerage business, according to people with knowledge of the matter.

The financing package includes a $4 billion term loan, a $2.1 billion secured bridge loan and a $1.9 billion unsecured bridge loan, according to the people, who asked not to be named discussing a private matter. A group of banks led by JPMorgan Chase & Co. and Morgan Stanley is expected to begin selling the debt by the end of March, the people said. 

The $2.1 billion secured bridge loan may be sold in the US high-yield market as a secured notes offering, the people said. Morgan Stanley is expected to run the secured bond sale and JPMorgan is expected to lead the $4 billion term loan sale. 

The financing package also includes a $1.175 billion revolving credit facility, the people said.

The $1.9 billion unsecured bridge loan may be sold as unsecured notes in the US high-yield market or as a second-lien term loan, the people said.  

CD&R and Stone Point didn’t immediately respond to requests for comment. JPMorgan and Morgan Stanley declined to comment. 

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