A takeover of Toshiba, which could be the biggest buyout in Asia this year, is at risk of slipping behind schedule, as the bidding groups running into obstacles securing financing commitments from banks.

The consortium led by Japan Industrial Partners (JIP) and a rival group led by state-backed investment fund Japan Investment Corp. (JIC) will find it hard to meet a Nov. 7 deadline, set by the iconic conglomerate, to line up commitment letters, according to people familiar with the matter. Some global banks have turned cautious over backing large buyouts like Toshiba amid rising borrowing costs in the United States and elsewhere, the people said. Inflation has even increased in Japan, though the central bank is an outlier in maintaining a loose monetary policy.

Shares in Toshiba fell as much as 3% in Tokyo on Monday following the news. The company has a market value of about $16 billion.