JP Morgan Chase & Co. plans to launch a $6.5 billion debt offering to support private equity firm 3G Capital’s acquisition of Skechers as soon as this week, sources told Bloomberg.
The funding is expected to include $4 billion of secured debt and $2.5 billion of unsecured debt, the latter of which would allow for a “payment-in-kind” feature with a toggle option. The payment-in-kind component enables the borrower to choose whether to pay interest in cash or by issuing additional debt.
The buyout, which features a significant equity contribution from 3G Capital, is scheduled to close in the third quarter of 2025.
Image courtesy Skechers
