Ten­cent to loan for mu­sic deal

The Citizen (KZN) - - Business -

A con­sor­tium led by Ten­cent Hold­ings is seek­ing a €1 bil­lion (about R15.9 bil­lion) five-year loan to help fund its $3.4 bil­lion pur­chase of a stake in Univer­sal Mu­sic Group.

Five banks are ex­pected to pro­vide the non-re­course fi­nanc­ing as a club deal, said a per­son who isn’t au­tho­rised to speak pub­licly and asked not to be iden­ti­fied.

– Bloomberg

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