Banks led by JPMorgan sold almost $15 billion of risky debt to help fund a record leveraged buyout of Electronic Arts after drawing $45 billion of orders. The $45B order book signals strong investor demand for leveraged credit and should support fees and secondary-market liquidity for high-yield/leveraged loan markets while potentially tightening spreads for similar deals.
Banks led by JPMorgan sold almost $15 billion of risky debt to help fund a record leveraged buyout of Electronic Arts after drawing $45 billion of orders. The $45B order book signals strong investor demand for leveraged credit and should support fees and secondary-market liquidity for high-yield/leveraged loan markets while potentially tightening spreads for similar deals.
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