Deutsche Bank and Bank of America a providing a combined $2.7bn (€2.1bn) in debt financing to a restaurant chain to finance its bid to take the company private.

OSI Restaurant Partners, the owner of the Outback Steakhouse restaurant chain, is seeking a $1.1bn seven-year term loan, a $250m six-year revolving credit, a $530m real estate loan and an $800m sale of high-yield bonds to finance its part of the management buyout, the company said in a filing with the Securities and Exchange Commission.