JPMorgan Chase begins to issue $20 billion of debt for the EA acquisition deal
JPMorgan Chase and other banks have begun to issue debt financing to raise $20 billion for the acquisition of Electronic Arts (EA), which will support the largest leveraged buyout (LBO) in history—the privatization of the gaming giant Electronic Arts. According to insiders, small banks in the Middle East, Asia, and Europe are actively purchasing approximately $3 billion worth of Term Loan A for the video game manufacturer. The issuance process will continue until the end of February, and the underwriting banks have the right to flexibly adjust the size of Term Loan A based on market conditions. (Bloomberg)