Deutsche Bank and Goldman Sachs are preparing to sell roughly $1.2bn of debt that financed Apax Partners’ acquisition of Finastra’s treasury and capital markets division, according to people familiar with the matter cited by Bloomberg.

The syndicated loan, which will be offered to institutional investors in the coming weeks, is expected to be split between euro- and dollar-denominated tranches. The banks have held the debt on their balance sheets since May, delaying syndication while awaiting updated financials and credit ratings, which are now expected imminently.

The transaction will help the lenders reduce exposure from one of the year’s largest European software carve-outs. Finastra agreed earlier in 2025 to sell the unit to private equity firm Apax Partners, with the deal expected to close in early 2026.

Underwriting leveraged buyouts remains among the most profitable yet riskiest activities for investment banks. While debt markets have stabilised in recent months, bankers remain cautious amid persistent volatility.

The upcoming sale adds to a recent pick-up in leveraged financing activity as M&A volumes recover. Banks are competing for a share of lucrative advisory and underwriting fees, with about $500m in potential fees tied to other large-scale buyouts such as the planned take-private of video game publisher Electronic Arts.

Neither Deutsche Bank nor Apax commented on the matter, and representatives for Goldman Sachs and Finastra did not immediately respond.

If you think we missed any important news, please do not hesitate to contact us at news@pe-insights.com.

Can`t stop reading? Read more.