Banks Begin $4.7bn Loan Sale for Sealed Air Acquisition

Banks have begun selling $4.7bn in leveraged loans to fund Clayton Dubilier & Rice's acquisition of packaging manufacturer Sealed Air. JPMorgan Chase is leading the sale of $4.1bn in dollar loans, while BNP Paribas is overseeing the sale of a $600m euro-denominated loan. The loans include an original issue discount and soft-call protection, with pricing at 3.5-3.75 and 3.75-4 percentage points over respective benchmarks. The deal is projected to close by mid-2026.