A group of banks led by JPMorgan Chase (JPM) and Citigroup (C) will use their own balance sheets to fund about $2.2 billion in debt in support of ABC Technologies' acquisition of TI Fluid Systems, Bloomberg reported Tuesday, citing people familiar with the matter.

ABC, which is backed by Apollo Global Management (APO), closed the deal for the auto supplier for an enterprise value of over $2.4 billion on Tuesday, Bloomberg reported, citing a statement.

JPMorgan, Citigroup and Apollo did not immediately reply to requests for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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