OCBC HK$38.4bn bridge for Wing Hang acquisition to test liquidity
Singapore’s Oversea-Chinese Banking Corp is seeking a chunky HK$38.4bn ($4.95bn) loan to fund its acquisition of Wing Hang Bank, with three lenders underwriting the whole fundraising. The large size of the debt will test market liquidity, but bankers away from the transaction reckon lenders will put their faith in the OCBC name, writes Rashmi Kumar.
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