JPMorgan-Led Group Explores Financing for Advent-Backed Tieup

A group of Wall Street banks led by JPMorgan Chase & Co. are working on a debt financing deal to support the Advent International-backed combination of software businesses Xplor Technologies and Clubessential Holdings, according to people familiar with the matter.

The approximate $1.35 billion transaction, which is expected to be in the form of an incremental term loan, will refinance existing debt held by Clubessential, said the people who requested anonymity to discuss a private matter. The bank group is assessing the level of investor demand for a potential transaction, which could launch as soon as next month, said the people.