Correct: “the transaction will be funded by a combination of cash from each of PIF, Silver Lake, and Affinity Partners as well as roll-over of PIF’s existing stake in EA, constituting an equity investment of approximately $36 billion, and $20 billion of debt financing.”

EA currently carries about $2.6bn in non-current liabilities of which $1.5bn is long-term debt. So an order of magnitude more debt.