Bloomberg reported billionaire Patrick Drahi is planning the biggest acquisition financing for a European phone company since 2005 to support his bid to acquire SFR from Vivendi SA.

According to Bloomberg , the offer is backed by 11 billion euros ($15 billion) of bonds and leveraged loans to be raised by a merged SFR and Numericable SA (NUM), while Drahi’s Altice SA (ATC) will issue 3 billion euros of junior debt, according to two people with knowledge of the matter, who asked not to be identified because the deal is private. It would be the largest acquisition financing for a European phone company since Telefonica SA got an 18.5 billion-pound ($31 billion) loan to buy UK mobile operator O2 Plc, according to data compiled by Bloomberg .

Bloomberg sources also said Deutsche Bank AG, Goldman Sachs Group and JPMorgan Chase are coordinating the debt financing, and Bank of America, Barclays, BNP Paribas SA, Credit Agricole SA, Credit Suisse Group AG and Morgan Stanley are also arranging the deal.

To read the entire Bloomberg article, click here.