Blackstone seeks A$5.5 billion loan for AirTrunk acquisition, sources say

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Blackstone seeks A$5.5 billion loan for AirTrunk acquisition, sources say - Channel News Asia

Quick Summary:

HONG KONG/SYDNEY : A Blackstone-led consortium is taking out an around $A5.5 billion ($3.7 billion) loan package to help fund the A$24 billion AirTrunk buyout, two sources with direct knowledge of the matter said, as the U.S.firm increases its Asian exposore.

AirTrunk borrowed around A$4.6 billion from more than 30 lenders last year and that debt will be rolled over after the acquisition, the sources said.

More than 10 banks are participating in the loan syndicate, including Credit Agricole, Deutsche Bank, Morgan Stanley and Japan's MUFG, the sources said.