JPMorgan banks face pushback on terms of Sealed Air takeover, Bloomberg says

Banks led by JPMorgan (JPM) are dealing with pushback related to the terms of a $7.2B debt deal to fund Clayton, Dubilier & Rice’s takeover of Sealed Air (SEE), Katherine Schwartz, Gowri Gurumurthy, and Jeannine Amodeo of Bloomberg reports, citing people familiar with the matter. Potential buyers of $2.45B of Sealed Air’s bonds and $4.7B of loans have raised concerns about some of the provisions, such as a clause that would give CD&R the option to spin off either of Sealed Air’s food or protective reporting units, the sources added.