JPMorgan Shops 15% Yield Debt for Oil Driller Boosted by Trump

JPMorgan Chase & Co. is negotiating with investors to refinance nearly $1 billion in debt for Sable Offshore Corp. at an interest rate of 15%. Sable Offshore Corp. is an oil driller that received support during the Trump administration. This refinancing effort aims to provide the oil driller with financial flexibility. The discussions are ongoing and involve multiple parties interested in the debt. The high interest rate reflects the perceived risk associated with the loan or the current market conditions for such financing. Sable Offshore Corp. has been a recipient of government backing, which may influence investor confidence and the terms of the debt.