Investing.com - JPMorgan Chase & Co. is preparing to sell $1.85 billion in debt financing to back Belden’s acquisition of Ruckus Network, according to reporting from Bloomberg, citing people familiar with the matter.
The leveraged loan financing is set to launch to institutional investors imminently. JPMorgan originally secured fully committed debt financing for the deal and has since brought in other lenders including Wells Fargo & Co., the people said.
Belden agreed to acquire Ruckus Network from Vistance Networks in April for approximately $1.85 billion. The company secured the debt commitment from JPMorgan at that time.
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