Subway comes up with debt plan to clinch $10 billion-plus sale

Reuters was first to report on Sunday that the bankers running the sale process for Subway have given the private equity firms vying for the sandwich chain a $5 billion acquisition financing plan, hoping to overcome a challenging environment for leveraged buyouts and fetch the company’s asking price of more than $10 billion. So far, bids for Subway have ranged between $8.5 billion and $10 billion. Second-round bids for Subway came in last week from more than 10 private-equity firms – Bain Capital, TPG, Advent International Corp, TDR Capital, Goldman Sachs Group Inc’s buyout arm and Roark Capital are among the private-equity firms that are participating in the auction.