The owners of ubiquitous eatery Subway are reportedly trying to sell the company, seeking a valuation of around $10bn. Private equity interest is expected, but to some bankers the prospect of another giant LBO financing might seem about as appetizing as a week-old sandwich.

Industry sources tell us that a few potential financing options are on the table: they include staple financing from JPMorgan, which is advising on Subway’s sale process, as well as a potential whole business securitization.