58.com: Lenders vie for up to USD 2bn loan mandate to finance take-private

Lenders are bidding for a mandate to arrange a loan financing of about USD 1.5bn to USD 2bn to help fund the proposed take-private of Chinese online classifieds marketplace 58.com Inc by a consortium led by Ocean Link Partners Ltd, according to three sources familiar with the situation.

Lenders are bidding for a mandate to arrange a loan financing of about USD 1.5bn to USD 2bn to help fund the proposed take-private of Chinese online classifieds marketplace 58.com Inc by a consortium led by Ocean Link Partners Ltd, according to three sources familiar with the situation.

Banks are in talks with the buyer group about the terms of the facility, including an indicative loan maturity of five years or longer, the three sources said. Some lenders are processing internal approvals to underwrite the loan, they added.

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by Carol Zhong