JPMorgan’s $20 Billion EA Check Marks Win Over Private Credit

September 29, 2025 at 5:00 PM UTC

Updated on

September 30, 2025 at 7:24 AM UTC

The $55 billion take-private of Electronic Arts Inc. has evoked several superlatives, including being heralded as the biggest leveraged buyout of all time. Part of that list is JPMorgan Chase & Co.’s $20 billion of financing — the largest debt commitment ever by a single bank for such a deal.

It marks the biggest win yet for Wall Street lenders that have sought to fend off the $1.7 trillion private credit industry from financing such transactions, which carry some of the juiciest fees in the debt-underwriting business.