JPMorgan Chase (JPM), which is running a stock and note offering from Sable Offshore (SOC), has seen limited investor demand for a loan paying 15%, Bloomberg reported Tuesday, citing people familiar with the matter.

Sable shares sold off after the oil driller said earlier Tuesday it would raise $400 million through the combination offering, as it looks to repay debt owed to Exxon Mobil (XOM), the report said.

The loan was originally sized at $1 billion but was cut for a second time on Tuesday to $675 million, the report said, citing a separate person.

JPMorgan and Sable didn't immediately reply to requests for comment from MT Newswires.

(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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