Sotheby’s Enlists Goldman Sachs, JPMorgan to Refinance Debt (1)

Sotheby’s is in talks with investors regarding a deal to refinance some of its existing debt, according to people familiar with the matter.

The auction house, owned by French-Israeli billionaire Patrick Drahi, has appointed Goldman Sachs Group Inc. and JPMorgan Chase & Co. to lead potential transactions in the junk-bond and leveraged-loan markets, respectively, the people said, asking not to be identified discussing a private matter.

Discussions between Sotheby’s and credit investors are in early stages, and there is no guarantee a transaction will materialize, the people said.

Patrick Drahi

Photographer: Stephane de Sakutin/AFP/Getty Images

Representatives for Sotheby’s, Goldman Sachs and JPMorgan declined to comment. ...