Fleming Cos. which is lining up $1 billion in bank financing for the planned purchase of Scrivner Inc., is also looking to refinance some $1.2 billion of existing debt, market sources said.
The $2.2 billion credit package is being syndicated by Morgan Guaranty Trust Co., the commercial banking unit of J.P. Morgan & Co.
So far, Fleming and Scrivner have declined to comment on whether a deal is in the works. Both companies are based in Oklahoma City.
Fleming is the nation's largest food wholesaler, with annual sales of about $13 billion. It's stock is traded on the New York Stock Exchange.
Scrivner, a food wholesaler and retailer with annual sales of $6 billion, is owned by the German company Franz Haniel & Cie.