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Tencent in talks for $6bn club loan
Chinese technology giant Tencent Holdings is talking to its relationship banks for a jumbo $6bn loan, opting to once again favour a club deal over syndication in a bid to save on funding costs.
The company is seeking a borrowing with a tenor of five years. It is paying a margin of 80bp over Libor — the same as what it paid for its last five year financing in 2019, according to a banker close to the situation.
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