JPMorgan reportedly raises 6.5 billion dollar to fund sale of Skechers

Finance firm JPMorgan Chase & Co. is believed to have prepared for a 6.5 billion dollar debt offering in support of 3G Capital’s impending purchase of footwear brand Skechers. According to a source for Bloomberg, the debt sale could take place as soon as this week.

The media outlet, which noted that a representative of the US corporation had declined to comment, had previously reported that the financing is expected to include four billion dollars of secured debt and 2.5 billion dollars of unsecured debt.

The latter option would allow for a “payment-in-kind” feature, enabling the borrower to choose whether to pay interest via cash or by issuing more debt. Bloomberg’s source said it wasn’t clear if the incoming offering would include all or some of the debt package.

Private equity firm 3G Capital announced its intention to takeover Skechers in a 9.4 billion dollar deal back in May. As part of the transaction, which is expected to close in the third quarter of 2025, the footwear brand will transition from a public to a privately held company.

The takeover comes amid a period of global economic uncertainties and trade tensions, particularly between the US and China, the latter contributing 15 percent of Skechers revenue. The brand had previously detailed plans to explore a cost-sharing model with vendors, with the goal of optimising sourcing and adjusting prices.