In 1989 another plan, named after another treasury secretary, Nicholas Brady, provided the necessary debt reduction.
Financial analysts had questioned whether Cadence could raise the necessary debt after after it lowered its financial outlook last month.
In its statement, the company said that its financial adviser, Credit Suisse, was "highly confident" in its ability to arrange the necessary debt.
Analysts also said many potential purchases would cost too much in the current environment, although Campbell could probably take on the necessary debt.
Such correspondence means that while ConvaTec has not secured formal lending commitments, its investment banks believe that they can arrange the necessary debt financing.
In his letter, Mr. Schulz said that "Credit Suisse, who I have retained as my financial adviser, is highly confident that it can arrange the necessary debt financing".
Now is the time to liberate further wealth creation by focusing on investment in infrastructure, so that real growth can support future spending of all types and the necessary debt reduction.
The founder and former chairman has written to the company saying that he is in talks with top-flight private equity firms and that his financial adviser, Credit Suisse, is "highly confident" it could arrange the necessary debt financing.
Mr. Schulze, who had made an informal proposal to buy Best Buy for $24 to $26 a share last August, failed to line up necessary debt and equity financing, the sources said.
At a meeting with senior Verizon executives around late June, a JPMorgan team led by Jamie Dimon, the firm's chief executive, insisted that the necessary debt financing was out there, according to a person briefed on the matter.
