00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Wall Street banks led by J.P. Morgan attracted about $19 billion of orders for nearly $15
00:07billion of debt tied to the leveraged buyout of Electronic Arts, according to Bloomberg.
00:13The group launched a $5.75 billion loan and plans to market $9 billion of bonds starting
00:19March 23rd. J.P. Morgan committed $20 billion to finance the deal and is working to move the
00:25debt off its balance sheet as macro concerns persist. The buyout values Electronic Arts at
00:30about $55 billion and marks the largest leveraged buyout on record. Moody's said gross debt will
00:36rise to $18 billion from $1.5 billion, with leverage near eight times. The deal includes
00:42loans, secured notes, and unsecured bonds across U.S. dollar and euro markets.
00:47For all things money, visit Benzinga.com.
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