JPMorgan Fails to Place $775M Sable Offshore Loan
JPMorgan Chase & Co. attempted to syndicate a $775 million term loan to Sable Offshore Corp. with a coupon of 15 percent, but the offering failed to attract sufficient investor demand. Bloomberg reported on Monday, citing people familiar with the matter, that commitments for the loan were originally due on Friday, yet the tranche remained on the market on Monday, indicating weak appetite despite a generally robust leveraged‑loan market that has recently enabled firms to tighten pricing and accelerate refinancing deadlines. Sable Offshore, which has been embroiled in legal challenges to its right to operate in California, resumed oil drilling in March after a hiatus of more than a decade. The resumption followed an intervention by former President Donald Trump, who invoked Cold War‑era powers to override state‑level opposition to the project. The article, authored by Luke Juricic and published on 30 June 2026, notes that the difficulty in placing the loan contrasts with broader market trends. This piece was generated with AI support and reviewed by an editor.