JPMorgan Boosts Loan to $5 Billion in Electronic Arts Buyout Financing, Bloomberg Reports

MT Newswires Live03-23

JPMorgan Chase (JPM) and other lenders increased a US dollar loan tied to the buyout of Electronic Arts (EA) to $5 billion, up $1 billion, while trimming other secured dollar debt to about $3.75 billion, Bloomberg reported, citing a person familiar with the matter.

The changes come as banks adjust leveraged buyout financing structures amid volatile credit markets, the report said. Investor demand for roughly $15 billion in loans and bonds linked to the deal had reached about $25 billion as of Friday, it added.

The acquisition is led by Silver Lake Management, Public Investment Fund of Saudi Arabia, and Affinity Partners, run by President Donald Trump's son-in-law Jared Kushner, according to Bloomberg. The transaction values the game publisher at nearly $55 billion, it said.

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