A group of banks led by JPMorgan Chase & Co. halted a $5.3 billion debt deal for software firm Qualtrics International Inc. after failing to win over investors amid deepening anxiety surrounding artificial intelligence disruption.
The banks paused early discussions on the sale after investors in the leveraged loan and junk-bond markets balked because of Qualtrics’ exposure to the software rout, according to people familiar with the matter, who asked not to be identified discussing private information.
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