Citigroup leads $2.45bn financing package for KKR’s Integer acquisition

Citigroup is preparing a $2.45bn debt financing package to support KKR’s acquisition of medical device manufacturer Integer Holdings, in one of the largest leveraged buyout financings expected to reach the US loan market this year, according to a report by Bloomberg.

According to reports, the financing will comprise a $2.1bn seven-year term loan alongside a $350m revolving credit facility. Barclays, UBS and Jefferies are also expected to participate in the lending syndicate.

The debt package is anticipated to be marketed to institutional leveraged loan investors in September, although final terms have yet to be agreed.

KKR announced earlier this week that it had agreed to acquire Integer Holdings in an all-cash transaction valued at approximately $5.7bn. Under the agreement, shareholders will receive $127 per share, taking the medical technology company private.

The transaction marks another prominent financing mandate for Citigroup in the healthcare buyout market. Earlier this year, the bank led the $8.75bn financing backing the leveraged acquisition of Hologic, one of 2026’s largest private equity transactions.

Despite a gradual recovery in sponsor-backed M&A, acquisition financings remain a relatively small proportion of activity in the US leveraged loan market. Refinancing and repricing transactions continue to dominate issuance, with M&A-related loans accounting for only around 15% of new leveraged loan volume so far this year, according to Bloomberg data.