Banks launch $5.75 billion loan for Electronic Arts deal
Banks began marketing a $5.75 billion loan to fund the $55 billion buyout of Electronic Arts. The cross-border debt sale is expected to close by March 23.
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A banking group led by JPMorgan Chase & Co. has launched the marketing of a $5.75 billion cross-border loan facility to investors. This financing is designed to support the $55 billion leveraged buyout and take-private acquisition of Electronic Arts Inc., according to a term sheet seen by Reuters. The seven-year term loan B is divided into a $4 billion United States dollar portion and a 1.531 billion euro (approximately $1.75 billion) portion.
