Capitalizing on corporations' growing desire to consolidate credit lines, three giant banks are leading an $8.8 billion loan for American Express Co.

J.P. Morgan & Co., Chase Manhattan Corp., and Union Bank of Switzerland are assembling the blockbuster loan, which would replace individual lines of credit with more than 65 banks. The syndicated loan would also provide $900 million of fresh funds.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.