Software industry slump: JPMorgan suspends Qualtrics' $5.3 billion debt financing

Qualtrics's existing loans have seen their price in the secondary market drop from near par at 100 cents in February to around 86 cents, allowing investors to acquire its outstanding debt at a lower price. The financing plan originally included $3.3 billions in leveraged loans, as well as $2 billions in debt issued through junk bonds or the private credit market, aiming to raise funds for Qualtrics's acquisition of Press Ganey Forsta.