Banks are preparing to sell £3.6 billion ($4.8 billion) of debt backing the take-private of DCC Energy Plc, targeting high-yield bond investors and infrastructure loan buyers. The financing follows the expected first-quarter completion of DCC Energy's £5.7 billion takeover by KKR & Co. and Energy Capital Partners. Goldman Sachs Group Inc., Morgan Stanley and 10 other banks have underwritten the funding, according to an August filing.

The lenders plan to sell down the financing next year, pending review by Britain's antitrust regulator, which typically extends the time debt remains on banks' balance sheets. Representatives for Morgan Stanley and DCC Energy declined to comment. Spokespeople for KKR, Energy Capital Partners and Goldman Sachs did not immediately respond.

The deal is part of a broader pipeline as lenders prepare to offload over $138 billion of buyout debt. Dublin-headquartered DCC distributes fuel and gas across Europe and the US. A sale of the company will mark the loss of one of the last Irish names in the UK's benchmark FTSE 100 index, after firms including CRH Plc and Flutter Entertainment Plc sought US listings.