Advent to Sell Reckitt Debt to Banks Before Wider Sale

Imagine a company, Advent, is buying part of another company, Reckitt, which makes things like Air Wick and Cillit Bang.

Advent needs money to buy this part of Reckitt, so it's getting a loan.

They're first selling some of this loan to a group of banks.

Then, they plan to sell the rest of the loan to other investors by mid-September.

This kind of loan is called a 'buyout loan'.

This deal is part of a bigger trend in business where companies buy and sell different parts of their business.

Some banks from Asia and the Middle East have shown interest in these types of loans in the past.