Borse Dubai to Hold Lender Meetings for $4.2 Billion OMX Loan
Borse Dubai Ltd., which plans to buy Nordic exchange operator OMX AB, will start promotional meetings with potential lenders next week for a $4.2 billion loan to help pay for the acquisition.
Loan arrangers HSBC Holdings Plc, Bank of Tokyo-Mitsubishi UFJ Ltd, Barclays Capital, Citigroup Inc., Emirates NBD PJSC and Goldman Sachs Group Inc. will hold meetings in Hong Kong, Dubai and London, Mukhtar Hussain, HSBC's global head of principal investments, told reporters in Dubai today.
``We are fully confident the transaction will be fully subscribed,'' Hussain said, declining to comment on the interest rate the one-year loan will pay.
Borse Dubai and Nasdaq Stock Market Inc., once rivals for Stockholm-based OMX, agreed in September that Dubai would proceed with its $4.9 billion bid and then hand the shares to Nasdaq. In return, Nasdaq would give almost 20 percent of its stock to Borse Dubai and sell it a 28 percent holding in the London Stock Exchange.
State-owned Borse Dubai's dollar loan is fully underwritten as a ``club deal'' by the six banks and syndication is due to be completed by Feb. 27, Hussain said.
Borse Dubai agreed to the loan in November when it also agreed to borrow 796 million British pounds ($1.6 billion) from the six banks to buy 20.4 percent of the London Stock Exchange Group Plc, data compiled by Bloomberg show. (Bloomberg)
Loan arrangers HSBC Holdings Plc, Bank of Tokyo-Mitsubishi UFJ Ltd, Barclays Capital, Citigroup Inc., Emirates NBD PJSC and Goldman Sachs Group Inc. will hold meetings in Hong Kong, Dubai and London, Mukhtar Hussain, HSBC's global head of principal investments, told reporters in Dubai today.
``We are fully confident the transaction will be fully subscribed,'' Hussain said, declining to comment on the interest rate the one-year loan will pay.
Borse Dubai and Nasdaq Stock Market Inc., once rivals for Stockholm-based OMX, agreed in September that Dubai would proceed with its $4.9 billion bid and then hand the shares to Nasdaq. In return, Nasdaq would give almost 20 percent of its stock to Borse Dubai and sell it a 28 percent holding in the London Stock Exchange.
State-owned Borse Dubai's dollar loan is fully underwritten as a ``club deal'' by the six banks and syndication is due to be completed by Feb. 27, Hussain said.
Borse Dubai agreed to the loan in November when it also agreed to borrow 796 million British pounds ($1.6 billion) from the six banks to buy 20.4 percent of the London Stock Exchange Group Plc, data compiled by Bloomberg show. (Bloomberg)
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