(Bloomberg) -- TPG Inc. and Affinity Equity Partners
Ltd. plan Asia's first loan that provides banks with minimal
protection to fund their S$2.2 billion ($1.4 billion) buyout of
Singapore's United Test & Assembly Center Ltd., said two people
with direct knowledge of the transaction.
The firms hired JPMorgan Chase & Co., ABN Amro Holding NV
and Merrill Lynch & Co. to arrange $1.25 billion of bonds and
loans, including the first so-called covenant-lite structure in
the region, said the people, who declined to be named because
the information isn't public. Covenant-lite loans have less
protection for lenders than other bank debt.
Read more at Bloomberg Bonds News
Ltd. plan Asia's first loan that provides banks with minimal
protection to fund their S$2.2 billion ($1.4 billion) buyout of
Singapore's United Test & Assembly Center Ltd., said two people
with direct knowledge of the transaction.
The firms hired JPMorgan Chase & Co., ABN Amro Holding NV
and Merrill Lynch & Co. to arrange $1.25 billion of bonds and
loans, including the first so-called covenant-lite structure in
the region, said the people, who declined to be named because
the information isn't public. Covenant-lite loans have less
protection for lenders than other bank debt.
Read more at Bloomberg Bonds News
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