A JPMorgan‑led consortium of banks began marketing a $5.75 billion loan on March 16 2026 to support the leveraged buyout of Electronic Arts Inc. (EA). The loan is part of the financing package that backs the $55 billion enterprise‑value transaction led by the Public Investment Fund (PIF), Silver Lake, and Affinity Partners.
The loan package includes a $3.5 billion Term Loan B and a $2.25 billion Euro‑denominated portion, priced at SOFR + 350‑375 basis points. The financing will fund the purchase of EA’s outstanding equity and debt, providing the liquidity needed to close the deal in the first quarter of fiscal 2027.
EA’s acquisition was announced on September 29 2025, with a $55 billion enterprise value and a 25% premium to the pre‑announcement share price, equivalent to $210 per share. The $55 billion figure represents the total transaction value, not an additional premium on top of that amount.
The consortium’s strategic rationale centers on PIF’s Vision 2030 push into gaming, Silver Lake’s expertise in technology buyouts, and Affinity Partners’ focus on entertainment assets. PIF’s investment is its largest in the sector, while Silver Lake and Affinity bring deep industry knowledge and capital to support EA’s long‑term growth.
EA’s recent financial performance has been mixed; the company missed profit and revenue targets in Q3 2026, reflecting declining revenue in some segments. The go‑private move is expected to allow EA to focus on long‑term initiatives such as new game development and AI projects without the pressure of quarterly public market scrutiny.
The loan marketing is a critical step toward closing the transaction, which is subject to regulatory and shareholder approvals. The consortium aims to finalize the deal in Q1 FY27, after securing the necessary approvals and completing the financing process.
Management commentary highlights the significance of the deal: "We are honored to invest and partner with Andrew [Wilson] – an extraordinary CEO who has doubled revenue, nearly tripled EBITDA, and driven a fivefold increase in market cap during his tenure," said Egon Durban, Co‑CEO of Silver Lake. "Affinity Partners' Jared Kushner added that EA's ability to “create iconic, lasting experiences” has made him a lifelong fan who “now enjoys them with his kids.” Turqi Alnowaiser, Deputy Governor and Head of International Investments at PIF, said, "PIF is uniquely positioned in the global gaming and esports sectors, building and supporting ecosystems that connect fans, developers, and IP creators. PIF has demonstrated a strong commitment to these sectors, and this partnership will help further drive EA's long‑term growth, while fueling innovation within the industry on a global scale." Andrew Wilson, EA CEO, described the deal as "one of the largest and most significant investments ever made in the entertainment industry."
The financing package underscores the consortium’s commitment to completing the transaction and provides investors with a clear path to the anticipated premium for EA shareholders. The loan’s structure and pricing reflect the market’s confidence in EA’s future prospects, while the deal’s record size highlights the growing trend of large leveraged buyouts in the technology and entertainment sectors.
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