Banks led by JPMorgan Chase & Co. changed the terms of their $7.2 billion debt offering to fund the buyout of Sealed Air Corp., in a bid to break a stalemate with investors who have balked at some of the deal’s provisions.
Banks led by JPMorgan Chase & Co. have sweetened the pricing for a $7.2 billion debt deal to fund Clayton, Dubilier & Rice’s takeover of Bubble Wrap maker Sealed Air Corp. amid investor pushback.
Signage stands outside JP Morgan Chase & Co. headquarters in New York.
Banks have kicked off the sale of a nearly $4.7 billion leveraged loan to help fund Clayton Dubilier & Rice’s acquisition of packaging firm Sealed Air Corp.
Sealed Air Corp., the maker of Bubble Wrap, dropped the most in more than three years after posting second-quarter earnings that trailed analysts’ estimates and announcing plans to pursue “strategic options.”
Jamie Dimon has been warning for weeks — months, even — that the credit cycle will eventually sour. Now, his bank is about to test investors’ appetites.
The JPMorgan Chase & Co. global headquarters building in New York on Jan. 20.
Anmelden
