Banks have committed up to €630 million of debt financing to back a potential sale of Allfunds Bank S.A. owned by Santander Asset Management - Sociedade Gestora De Fundos De Investimento Mobiliário, S.A. and Intesa Sanpaolo S.p.A. (BIT: ISP) as interested buyers get shortlisted, banking sources said. Santander Asset Management and Intesa, which own 50% each of the Madrid-based firm, have decided to sell their shares, hiring Bank of America Merrill Lynch and Morgan Stanley to advise on the process, which is being carried out as a competitive auction, the sources said. he staple financing is made up of an all-senior high-yield bond financing. “The staple financing is similar to the ICBPI debt financing,” one of the sources said.