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JP Morgan Chase & Co. has begun marketing a debt package to help fund Long Lake Management Inc’s. $6.3 billion acquisition of Global Business Travel Group Inc., the travel platform spun out of American Express Co., adding to a recent pickup in leveraged-buyout financings coming to market.
The bank is offeringBloomberg Terminal a $1.5 billion term loan B at a margin of 4 percentage points above the benchmark, according to a person with direct knowledge of the matter. The facility is being offered at a discounted price of 99 cents on the dollar, the person added, asking not to be identified because the details are private.
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