A banking consortium led by J.P. Morgan Chase may sell part of Qualtrics International Inc.'s $5 billion debt at a discount. According to people familiar with the matter, the coupon interest on the debt is likely to be at least 8%, and the issue price was discounted to about 85 cents per dollar. Qualtrics's debt sale is likely to start as soon as next week, and pricing will be completed before the Thanksgiving holiday. According to data compiled by Bloomberg, if the deal is reached at this price, it will constitute one of the biggest discounts among new bonds issued in the US high-yield market this year. In recent months, as market concerns about AI impacting the business of software companies have intensified, many software companies have had to pay high borrowing costs and strengthen clause protections to lock in lenders.
Zhitongcaijing · 1d ago
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A banking consortium led by J.P. Morgan Chase may sell part of Qualtrics International Inc.'s $5 billion debt at a discount. According to people familiar with the matter, the coupon interest on the debt is likely to be at least 8%, and the issue price was discounted to about 85 cents per dollar. Qualtrics's debt sale is likely to start as soon as next week, and pricing will be completed before the Thanksgiving holiday. According to data compiled by Bloomberg, if the deal is reached at this price, it will constitute one of the biggest discounts among new bonds issued in the US high-yield market this year. In recent months, as market concerns about AI impacting the business of software companies have intensified, many software companies have had to pay high borrowing costs and strengthen clause protections to lock in lenders.
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