JPMorgan, BofA Prepare $2.4 Billion Debt Sale for CVC’s IFF Deal

Bank of America and JPMorgan Chase are preparing to launch about $2.4 billion in debt financing to back CVC Capital Partners' acquisition of International Flavors and Fragrances' food ingredients business. The financing will support the leveraged buyout, with banks arranging the debt sale to institutional investors. The deal highlights continued appetite for private equity acquisitions in the food sector.