(Bloomberg) -- Carlyle Group Inc. is seeking to raise at least A$500 million ($324 million) of debt to back its acquisition of Waste Services Group Pty., an Australian waste management firm, from Livingbridge EP LLP, according to people familiar with the matter.
Carlyle is evaluating its fund-raising options, mulling between bank debt or a private credit loan, one of the people familiar said, who asked not to be named discussing a private matter. The private equity firm is in exclusive talks with Livingbridge to acquire the company for around A$1 billion, the Australian Financial Review reported on Tuesday.
A spokesperson for Carlyle declined to comment.
Australia’s leverage buyout activity has been picking up as financial sponsors look to put their money to work, while others have been seeking to cash out. The rise in deal-making bodes well for financiers, who are also keen to bank such transactions.
Recent deals include Oaktree Capital Management LP’s A$345 million private credit loan for its acquisition of a stake in advisory firm AZ Next Generation Advisory and Affinity Equity Partners’s A$515 million leveraged financing for its takeover of Lumus Imaging from Healius Ltd.
Waste Services Group operates waste collection and recycling services in Victoria and New South Wales states, according to information on its website.
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