Banks tune in to Tencent’s Universal Music acquisition loan

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By Pan Yue
10 Jan 2020

Chinese technology company Tencent Holdings is set to sign a €1bn club loan to support its acquisition of a stake in Universal Music Group.

Five banks have formed the club. They are Bank of America, Bank of China Hong Kong branch, HSBC, Industrial and Commercial Bank of China and Morgan Stanley, according to a banker close to the situation.

The banker added that a limited syndication may be followed, depending on ...

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