Banks led by JPMorgan Chase & Co. have kicked off an $8 billion junk-bond sale to fund the record leveraged buyout of video game maker Electronic Arts Inc., again shifting around the debt mix for the deal to navigate fluctuating risk appetite.
The group launched a $5.5 billion secured offering on Monday across US dollars and euros, and $2.5 billion of dollar-denominated unsecured bonds, according to a person with knowledge of the matter. About two weeks ago the bond portion had swelled to $9.5 billion, but the financing shifted toward loans once again, a sign of the day-by-day nature ...
