Banks Shed $22 Billion of Buyout Debt After Record EA Deal

Wall Street banks started the week with nearly $30 billion of buyout junk debt to offload amid the most volatile markets in months. They are now done with the bulk of it.

Banks led by JPMorgan Chase & Co. sold almost $15 billion of risky debt on Tuesday to help fund the record leveraged buyout of video game-maker Electronic Arts Inc., after drawing $45 billion of orders.