JPMorgan (JPM) Leads $5.3B Debt Package for Qualtrics (XM) to Buy Press Ganey

JPMorgan Chase & Co. is arranging a $5.3 billion debt package for Qualtrics International Inc. to acquire health-care survey firm Press Ganey Forsta. The financing comprises a $3.3 billion leveraged loan and $2 billion in high-yield bonds or private credit. Proceeds will support the $6.75 billion acquisition and refinance $1.8 billion of existing debt. The deal could launch in March 2026, testing investor appetite for software sector debt amid concerns over artificial intelligence disruption.