JPMorgan gets in on UOB act

Fresh from advising Keppel Capital, it will fund UOB''s acquisition of OUB

In an unusual move, JPMorgan has swept into the forthcoming financing for UOB, as it seeks to buy Singapore's fourth biggest bank, OUB.

This is something of a coup, especially given that Merrill Lynch did the successful MA advisory for UOB. Merrill put in place the bridge loan that Singapore regulations make necessary, a fact that would suggest it would have gained sole books in the financing. In Singapore, banks must pre-fund the acquisition of other banks, under Monetary Authority of Singapore regulations.

A roadshow will be held on Friday for the Singapore dollar bond, which is expected to be a minimum size of S$750 million, but could be as...

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