Banks Kick Start $2.9 Billion Bond Sale for Worldpay Buyout (1)

Banks including Goldman Sachs Group Inc. and JPMorgan Chase & Co. kicked off the sale of $2.9 billion of bonds to fund GTCR’s purchase of a majority stake in payment processor Worldpay Inc., a key test of investor appetite for risky debt to finance leveraged buyouts.

The banks will hold a call for investors Monday at 3 p.m. UK time, with pricing of the senior secured notes targeted for Wednesday, according to a person with knowledge of the sale, who asked not to be identified as the information is private. The sale is split across two tranches of $2 ...