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Pin to quick picksHSBC Holdings Share News (HSBA)

Share Price Information for HSBC Holdings (HSBA)

London Stock Exchange
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Share Price: 705.50
Bid: 707.20
Ask: 707.30
Change: 0.50 (0.07%)
Spread: 0.10 (0.014%)
Open: 706.50
High: 714.40
Low: 705.00
Prev. Close: 705.00
HSBA Live PriceLast checked at -

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Thai Berli secures $6.2 bln financing to buy Casino's Big C stake - sources

Wed, 16th Mar 2016 11:12

By Manunphattr Dhanananphorn and Prakash Chakravarti

BANGKOK/HONG KONG, March 16 (Reuters) - Thailand's BerliJucker Pcl has secured a $6.2 billion short-termfinancing deal with 15 banks to fund the acquisition of Big CSupercenter from France's Casino Group,people with direct knowledge of the deal said.

Berli, the core retail business of Thai tycoon CharoenSirivadhanabhakdi's TCC Group, won a hotly contested auction forCasino's 58.6 percent stake in Big C.

Berli spokespeople declined to comment on the loans onWednesday.

Nine banks including BNP Paribas and Bank of China signed an agreement on Wednesday in Bangkok to providea 3.2 billion euros ($3.5 billion) 12-month bridge loan to fundBerli's payment to Casino, four sources told Reuters, decliningto be identified as they were not authorised to speak publiclyon the deal.

The other banks were Bangkok Bank, HSBC,the Industrial and Commercial Bank of China (ICBC), Japan'sMizuho Bank, Rabobank, Standard Chartered andSumitomo Mitsui Banking Corp, the sources said.

Seven Thai banks will provide a one-year baht-denominatedloan worth $2.68 billion to Berli to fund a general offer to buyoutstanding Big C shares from remaining shareholders, thesources said.

Those banks are Bangkok Bank, Krung Thai Bank, SiamCommercial Bank and Kasikornbank, Tisco Bank, Kiatnakin Bank and TMB Bank, theysaid.

($1 = 35.0200 baht) (Reporting by Manunphattr Dhanananphorn and Prakash Chakravartiin Hong Kong; writing by Khettiya Jittapong; editing by SimonWebb and David Clarke)

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