citigroup-and-chinatrust-mandated-for-lbo-finance

Citigroup and Chinatrust mandated for LBO finance

The $1.5 billion leveraged buyout financing for MBK PartnersÆ purchase of China Network Systems will be one of the larger private-equity financings ever completed in Asia.

Chinatrust Commercial Bank and Citigroup have been awarded the mandate to arrange the leveraged buyout financing for MBK Partners' purchase of China Network Systems CNS. Sources close to the deal have stated that Chinatrust will act as the security agent, with Citigroup acting as facility agent.

The deal will be worth approximately NT$50 billion $1.5 billion and will be financed via a combination of debt and equity. The debt portion is expected to consist of two tranches, a senior tranche and a subordinated tranche.

As yet, the size of the debt portion has not been finalised, but sources predict that it will be...

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