Three banks offer $4.95b bridge loan for OCBC's Wing Hang deal

It'll have a 12-month tenor.

According to a report by Reuters, three banks are providing a fully underwritten $4.95 billion bridge loan to Singapore's Overseas-Chinese Banking Corp Ltd (OCBC) to fund its offer to buy Hong Kong-based Wing Hang Bank, according to sources close to the matter.

Bank of America Merrill Lynch (BofA), HSBC and J.P. Morgan are sharing equal underwriting of the loan, the sources said, which will have a 12-month tenor.

Read full report here.

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