Giant Interactive moves to next level on $850m LBO financing

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By Rashmi Kumar
10 Apr 2014

Giant Investment pushed the play button on its fundraising this week, launching an $850m loan on Wednesday to back the going-private of New York-listed online game developer Giant Interactive. The deal will shine a light on the comfort level of lenders for gaming credits — and if all goes well it is likely to set a precedent for other names to follow, writes Rashmi Kumar.

The $850m five year leveraged buyout loan is fully underwritten by mandated lead arrangers and bookrunners BNP Paribas, China Minsheng Bank, Credit Suisse, Deutsche Bank, Goldman Sachs, Industrial and Commercial Bank of China (International) and JP Morgan.

But the presence of strong names at the top level ...

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