JPMorgan to Test Appetite for Software Debt With $5 Billion Deal

2026년 2월 21일 · Unknown · financial · 출처 Yahoo Finance

(Bloomberg) -- A lender group led by JPMorgan Chase & Co. is preparing to raise $5.3 billion of debt to support Qualtrics International Inc.’s purchase of health-care survey firm Press Ganey Forsta, according to people familiar with the matter.

The package is expected to comprise a $3.3 billion leveraged loan issued in US dollars and euros, while another $2 billion could be sold in the high-yield bond market or to private credit firms, said the people, who requested anonymity to discuss private deliberations. A deal could launch in March, they added. Proceeds will also refinance about $1.8 billion in Press Ganey’s debt, the people said.

Most Read from Bloomberg

Private Prisons Face an Existential Threat Under Trump's New Detention Plan How Zoning Won A Shaker Revival Points to Something Deeper Than a Trad Obsession White House Ballroom Design Approved by Trump Commission After One Hearing

Representatives for JPMorgan and Press Ganey declined to comment. Representatives for Qualtrics and its owner Silver Lake Management didn’t immediately respond to a request for comment.

The group of lenders is looking to raise cash as wary investors try to assess how new artificial intelligence models could disrupt the software sector. Qualtrics, which makes online survey tools, agreed in October to buy Press Ganey in a deal valued at $6.75 billion.

Many asset managers are exposed to loans for numerous software companies, and they’ve been parsing through their holdings to determine which firms are especially vulnerable to the emergence of AI.

Talks of Qualtrics’ debt deal come a week after direct lenders provided loans for two other software companies — Clearwater Analytics Holdings Inc. and OneStream Inc. — that are being acquired by private equity firms.

Most Read from Bloomberg Businessweek

How Jerome Powell Is Trump-Proofing the Fed Supreme Court’s Tariff Ruling Is Secretly a Gift to Trump Millennials Melted Their Brains With Screens. Their Kids Want None of It The Georgia Pastor Accused of Defrauding the VA of Nearly $24 Million Kids Want Cheap Stuff, and Lots of It. Five Below Delivers

©2026 Bloomberg L.P.

View Comments