Ares Management Corp. and Blue Owl Capital Inc. are leading a group of private credit lenders providing $4.8 billion of debt financing for the acquisition of pharmaceuticals manufacturer Catalent Inc., according to Bloomberg News.

The financing — one of the largest private credit transactions on record — will help fund the $16.5 billion acquisition of Catalent by Novo Holdings, the controlling shareholder of weight loss drugmaker Novo Nordisk A/S. The package is made up of a $4.2 billion term loan and $575 million revolving line.

The financing is one of the biggest ever arranged by private credit lenders and the biggest so far this year, according to data compiled by Bloomberg News.