JPMorgan leads sale of $2 billion in Qualtrics debt
1 report, 1 independent
Updated Nov 1
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What happened
JPMorgan Chase & Co. is leading the sale of debt related to Qualtrics International Inc., a software firm owned by Silver Lake. Bankers have scheduled meetings to market nearly $2 billion of this high-yield bond debt. Initial indications suggest the debt could be sold with a coupon of at least 8% and a discounted rate of about 85 cents on the dollar.
From livemint.com
Why it matters
The debt sale could represent one of the largest new-issue discounts in the US high-yield market this year. This occurs amid concerns that AI disruption is causing software companies to face high borrowing costs.
From livemint.com
Who's involved
- QualtricsSoftware firm whose debt is being sold
- Silver LakePrivate equity firm that owns Qualtrics
- Electronic ArtsNot involved in this event
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The entities involved
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Qualtrics
experience management company
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Silver Lake
lake in Australia
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