Market Chatter: JPMorgan Chase to Launch $1.85 Billion Debt Financing for Belden's Ruckus Acquisition
JPMorgan Chase (JPM) is preparing to launch a $1.85 billion debt financing package to back Belden's (BDC) acquisition of Ruckus Network, Bloomberg reported Wednesday, citing people familiar with the situation.The leveraged loan financing is expected to be marketed to institutional investors imminently, the people told Bloomberg.Belden agreed in April to acquire Ruckus Network from Vistance Networks (VISN) for about $1.85 billion, obtaining fully committed debt financing from JPMorgan. The bank has since brought additional lenders into the lineup, including Wells Fargo (WFC), the report added.Wells Fargo declined to comment, while JPMorgan Chase, Belden and Ruckus Network didn't immediately reply to requests for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $300.21, Change: $-0.75, Percent Change: -0.25%
