# The banks are preparing to use their own balance sheets to fund $5.3 billion of debt for Qualtrics’ acquisition of Press Ganey Forsta.

*fintech · news · 2026-05-06 · Bloomberg*

## Key points

- JPMorgan and a group of banks face over $500 million paper losses on Qualtrics' debt deal.
- Banks will fund $5.3 billion of debt for Qualtrics' acquisition of Press Ganey Forsta themselves.
- This Qualtrics deal marks the largest 'hung' leveraged finance deal in 2024 so far.
- The size of the banks' exposure indicates significant risk due to weak leveraged finance demand.

**Companies:** JPMorgan Chase & Co., Qualtrics International Inc.
**Countries:** United States

[Read the full story on Bloomberg](https://www.bloomberg.com/news/articles/2026-05-06/jpmorgan-led-group-eyes-500-million-loss-on-qualtrics-debt)

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