(Bloomberg) -- A group of banks led by Deutsche Bank AG launched a $3.3 billion leveraged loan package on Tuesday to help finance the buyout of hospital billing and payment company R1 RCM Inc.

The transaction consists of a $3.1 billion term loan and a $200 million delayed-draw term loan, according to a person with knowledge of the matter. Along with an additional $1 billion of expected secured debt, proceeds will help finance TowerBrook Capital Partners and Clayton, Dubilier & Rice’s acquisition of the company, the person said, who asked not to be named discussing a private transaction.

The $3.1 billion tranche ranks as the second-largest leveraged loan of the year used to help finance a buyout, tied with one for the acquisition of former Truist Financial Corp. unit TIH Insurance Holdings, according to data compiled by Bloomberg. This year’s largest is a $4.25 billion loan for Cotiviti Inc.’s buyout.

Meanwhile, at least 18 leveraged-loan transactions launched Tuesday morning to start the holiday-shortened week, already the busiest day since June 3, Bloomberg-compiled data show. 

R1 RCM’s buyout, announced in August, put an $8.9 billion enterprise value on the firm. Deutsche Bank and Royal Bank of Canada were prepping a $4.5 billion debt package to help fund the purchase, including a leveraged loan of as big as $4.1 billion, Bloomberg previously reported. The acquisition is targeted to close by year’s end. 

Commitments on the proposed loans are due at 12 p.m. ET on Oct. 25.

--With assistance from Andrew Kostic.

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