10:29 AM EDT, 05/20/2025 (MT Newswires) -- (Updates with JPMorgan's ( JPM ) response in the fourth paragraph.)

Apollo Global Management ( APO ) plans to finance its $2 billion acquisition of PowerGrid Services with $1 billion in private credit, Bloomberg reported Monday, citing people with knowledge of the matter.

Brookfield Asset Management ( BAM ) , Blackstone (BX) and JPMorgan's ( JPM ) direct lending businesses are funding the debt package for the purchase from Sterling Group, the report said.

The package includes a $650 million term loan, a $200 million delayed-draw term loan and a $125 million revolving credit line, the report said.

Apollo, Brookfield, and Blackstone didn't immediately respond to requests for comment from MT Newswires. JPMorgan ( JPM ) declined to comment on the matter.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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