LONDON, Dec 15 (Reuters) - Banks are lining up a leveraged loan of around US$300m to back a potential sale of European airline services firm Accelya, banking sources said on Thursday.
French mid-market buyout firm Chequers Capital put Accelya up for sale last month and hired BNP and Evercore to advise on the auction process.
Private equity firms including Bridgepoint, PAI Partners and Warburg Pincus are through to the final round of bidding after submitting first round bids on December 5, the sources said.
Warburg Pincus, which owns Dubai-based travel services firm Mercator, could extract synergies by merging the two companies if it wins the process, the sources added.
Bridgepoint, PAI Partners and Warburg Pincus declined to comment. Chequers was not immediately available to comment.
The financing is expected to be denominated in dollars to match the company's cashflows. It will be syndicated in Europe as Accelya's headquarters are in Spain and European investors will be asked to commit in dollars, the sources said.
A 300m loan would give leverage of around six times Accelya's Ebitda of approximately 50m, the sources said.
Accelya is based in Barcelona and helps more than 200 airlines to streamline their costs and provides services including accounting, audit, billing and revenue recovery services.
Editing by Tessa Walsh