Banks Shed $22 Billion of Buyout Debt After Record EA Deal (2)

Wall Street banks started the week with nearly $30 billion of buyout junk debt to offload amid the most volatile markets in months. They are now done with the bulk of it.

Banks led by JPMorgan Chase & Co. sold almost $15 billion of risky debt on Tuesday to help fund the record leveraged buyout of video game-maker Electronic Arts Inc., after drawing $45 billion of orders.

About $8.13 billion of loans in dollars and euros were sold at an interest rate of 3.5 percentage points above the benchmark and a discounted price of 98.5 cents, according to a ...