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JPMorgan Weighs Big Discount to Lure Lenders for Software Debt

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EXCLUSIVE JPMorgan Weighs Big Discount to Lure Lenders for Software Debt Banks led by JPMorgan Chase & Co. could offer one of the year’s biggest discounts to sell some of the $5 billion in debt for software firm Qualtrics International Inc. that the underwriters were stuck holding a few months ago. Bankers have scheduled meetings with investors this week to discuss the sale of nearly $2 billion of debt in the high-yield bond market, according to people with knowledge of the matter. Initial...

EXCLUSIVE JPMorgan Weighs Big Discount to Lure Lenders for Software Debt Banks led by JPMorgan Chase & Co. could offer one of the year’s biggest discounts to sell some of the $5 billion in debt for software firm Qualtrics International Inc. that the underwriters were stuck holding a few months ago. Bankers have scheduled meetings with investors this week to discuss the sale of nearly $2 billion of debt in the high-yield bond market, according to people with knowledge of the matter. Initial indications are that the debt could be marketed at a coupon of at least 8% and a discounted rate of about 85 cents on the dollar, said the people, requesting anonymity as the talks are private.
JPMorgan (ORG) JPMorgan Chase & Co. (ORG) Qualtrics International Inc. (ORG)
Originally published by Bloomberg Markets Read original →