TEN - Banks expected to fund Nielsen Tenneco buyouts as debt markets hurt

Banks are said to be plan to fund the debt for leverage buyouts of Nielsen Holdings ( NYSE: NLSN ) and possibly Tenneco ( NYSE: TEN ).

The banks are expected to fund the Nielsen ( NLSN ) purchase, according to a Bloomberg report, which cited people familiar. Banks including Bank of America and Barclays have until around Oct. 11 to attempt to offload loans and bonds or else they will be forced to finance the acquisition's $8.4 billion of debt.

There also appears to be a high likelihood that banks, including Citi and BofA will need to fund the more than $5 billion in debt for Apollo's ( APO ) planned acquisition of Tenneco ( TEN ), according to the Bloomberg report. It's possible the banks won't need to step up because the Tenneco deal still needs European regulatory approval.

The report comes after a NYSE delisting notice on Monday  indicated Nielsen ( NLSN ) shares would be suspended Oct. 12 due its planned sale to Elliott Management and Brookfield Business Partners. Dealreporter on Monday also said Nielsen's proposed financing to back the the PE firms is said to face significant delays due to the market meltdown.

The latest updates also come after banks on Thursday shelved a $3.9 billion debt offering for Apollo Global's ( APO ) deal to purchase Brightspeed.

Tenneco fell a bit last week as investors are concerned on financing for transactions , in light of current market volatility and the recent issues regarding the Citrix Systems sale to Elliott and Vista Equity, where banks that underwrote debt backing the deal are collectively headed for $500M in losses when the debt was auctioned off at a discount .

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