JPMorgan Among Banks Working on Over €8 Billion Debt for UK Firm Belron
- Belron deal is expected to come to market this month
- BNP, Bank of America are also working on the transaction
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JPMorgan Chase & Co., BNP Paribas SA and Bank of America Corp. are among banks set to market over €8 billion ($8.8 billion) in debt for UK vehicle glass repair company Belron, with the proceeds to go toward pushing out debt maturities and funding a shareholder payout.
It’s expected to be launched as soon as this month, subject to market conditions, according to people familiar with the matter, who spoke on condition of anonymity because the details aren’t public. The debt will likely consist of both dollar and euro tranches, across a mix of leveraged loans and high-yield bonds, they added.