Barclays, Goldman Sachs, and BNP Paribas are organizing a debt package to support the £5.75 billion acquisition of DCC Energy by KKR and Energy Capital Partners. The consortium plans to offer approximately £4 billion in high-yield bonds and infrastructure loans to institutional investors.
The transaction values the Irish energy distributor at £5.75 billion, or roughly $7.7 billion. This offer represents a premium of 24% to 30% over the company's share price prior to the start of acquisition discussions. Shareholders approved the deal in September 2026, with a cash offer of 6,525 pence per share.
To facilitate the deal, the banking group arranged an interim bridge facility of £3.6 billion. This short-term financing will be replaced by permanent capital market instruments. The acquisition is scheduled to close in the first quarter of 2027, following an initial bid rejection in April 2026.
DCC Energy reported revenue of £15.4 billion and an adjusted operating profit of £634 million for the fiscal year ending March 2026. The current debt structure is set at approximately six times the adjusted operating profit, reflecting the leveraged nature of the buyout.
