Citibank beat out NationsBank to lead a new $140 million buyout loan for Carlyle Group, a merchant banking firm.

The loan will help finance Carlyle's purchase of Magnavox Electronic Systems Co. from Philips Electronics NV, the Dutch consumer electronics company. Philips agreed to sell its Magnavox defense electronics unit to Carlyle in late July.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.