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Lenders that worked on a HK$4.851bn ($622m) leveraged buyout loan to support MBK Partners and TPG Capital's acquisition of telecom firm Wharf T&T have thrown their weight behind the same sponsors for a potential bid for Hutchison Global Communications, said bankers.
Original mandated lead arranger and bookrunner Standard Chartered co-ordinated Wharf's fundraising, which included Cathay United Bank, CTBC Bank, E.Sun Commercial Bank and Taipei Fubon Commercial Bank as OMLABs. China Minsheng Bank and Taishin International Bank joined during senior syndication as MLABs on a take and hold basis.
The financing for Wharf T&T, which was renamed WTT HK with effect from Thursday, was wrapped up last December.
It consisted of a senior piece and a mezzanine portion. The senior debt was split between a HK$4.446bn five year term loan and a HK$405m revolver for working capital that will not be drawn. The mezzanine facility represented one time leverage, while the senior portion had a...