JPMorgan may cut price on $5 billion Qualtrics debt sale
In short
Banks led by JPMorgan Chase & Co. may offer a big discount to sell some of the $5 billion debt for Qualtrics International Inc. The debt had been stuck with the underwriters a few months ago.
What the reporting says
Banks led by JPMorgan Chase & Co. could offer a large discount to sell part of the $5 billion debt tied to software firm Qualtrics International Inc. The debt was left with underwriters a few months ago, and the planned discount suggests lenders are being pulled back into the deal. The source indicates a financing effort in the debt market, but not the final terms or timing.
Why it matters
Banks led by JPMorgan Chase & Co. are considering a sizable discount to place part of the $5 billion debt linked to Qualtrics International Inc. The debt had been left with underwriters a few months earlier, and the discount is meant to lure lenders back in. The story points to stress in the syndication process and pricing pressure in the leveraged debt market.