Private Credit Funds Eye £1.3 Billion for JTC Take-Private Deal

Private credit firms are weighing up providing a debt package worth around £1.3 billion ($1.8 billion) to finance a potential take-private deal for JTC Plc, said people familiar with the matter.

The London-listed provider of fund solutions and corporate services is now engaging with suitors after takeover proposals from private equity firms Warburg Pincus and Permira. The credit funds are working off earnings before interest, taxes, depreciation and amortization of about £150 million, the people said.