Subway advisers still aim to get $10bn in global sandwich chain sale

So far, bids for Subway have ranged between $8.5bn and $10bn, one source said

In 2021, Subway launched a menu overhaul and splashy marketing campaign in the US as it embarked on a turnaround plan that has helped sales grow. 

The bankers running the sale process for Subway have given the private equity firms vying for the sandwich chain a $5bn (€4.5bn) acquisition financing plan, hoping to overcome a challenging environment for leveraged buyouts and fetch the company's asking price of more than $10bn, sources say. 

Interest rates have been rising and concerns about an economic slowdown have increased since Subway said in February it was exploring a sale, making debt more expensive and less available for buyout firms pursuing deals. This is weighing on how much the private equity firms are offering to buy companies.